Middle East

States from the Middle East have concluded about 600 investment deals. 44 ISDS cases have been brought against Middle Eastern countries, while investors from the region have initiated 44 cases as well.

In 2013, Al-Kharafi & Sons Co., investors from Kuwait, were awarded US$935 million under the Unified Agreement for the Investment of Arab Capital in the Arab States, in a dispute over a land-leasing contract for a tourism project in Libya, making it one of the largest known awards to date. They had only invested about US$5 million but the arbitration tribunal decided that Libya also had to compensate for profits that would have been made during the 90-year leasing contract and were now lost.

Photo: President of Azerbaijan / CC BY 4.0

(April 2020)

The Herald | 7-Mar-2022
The agreement between Zimbabwe and the United Arab Emirates on promotion and protection of investments has come into force.
Forbes | 15-Feb-2022
The Qatari government is facing a $6 billion international arbitration claim stemming from a case against a member of the country’s ruling family.
Emirates News Agency | 9-Feb-2022
The agreement protects both nations’ investments from all non-commercial risks, covers transfer of profits and revenues, and facilitates resolving disputes.
Yonhap | 13-Jan-2022
En junio de 2018, el CIADI ordenó al Gobierno de Seúl que pagara a la familia Dayyani unos 63 millones de dólares, pero el pago no se ha realizado debido a las sanciones de EE. UU. sobre Irán.
Yonhap | 13-Jan-2022
En juin 2018, le CIRDI a ordonné au gouvernement de Séoul de payer à la famille Dayyani environ 63 millions de dollars, mais le paiement n’a pas été effectué en raison des sanctions américaines imposées contre l’Iran.
Yonhap | 12-Jan-2022
In June 2018, the ICSID ordered Korea to pay the Dayyani family about US$63 million, but the payment has not been made due to US sanctions on Iran.
Financial Tribune | 1-Dec-2021
Bahrain has been ordered by the Permanent Court of Arbitration in The Hague to pay over €200 million in damages plus costs to two Iranian banks for the unlawful moves against their operations.
L’Orient Le Jour | 1-Dec-2021
Téhéran s’est félicité dimanche de la récente condamnation de Bahreïn à verser plus de 200 millions d’euros de compensation à deux banques iraniennes expropriées par ce pays arabe du Golfe.
Devdiscourse | 22-Nov-2021
An UAE-based trading and investment firm has filed a lawsuit before the Sindh High Court worth around Rs 74 billion against the State Bank of Pakistan and a private bank for BIT breach, local media reported.
The Express Tribune | 18-Oct-2021
Turkish construction company Bayindir filed a claim under the 1995 Turkey-Pakistan bilateral investment treaty at the ICSID on October 12.

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