PROTECTION OF FOREIGN INVESTMENTS DURING ARMED CONFLICTS
PROTECTION OF FOREIGN INVESTMENTS DURING ARMED CONFLICTS

Summary/Abstract: This paper analyzes the legal framework for the protection of foreign investments during armed conflicts through the prism of international investment law, international humanitarian law, and human rights. The research shows that the existing international legal regime provides fragmented protection to foreign investors, who face challenges in applying different legal standards in extraordinary circumstances. By analyzing relevant case law of international tribunals and arbitration courts, the paper identifies key legal principles that apply to investment protection in the context of armed conflicts, including the doctrine of necessity, force majeure clauses, and standards of full protection and security. Special attention is devoted to the evolution of evidentiary standards in the digital era, as highlighted by Knežević (2025), which has significant implications for determining state responsibility for damage inflicted on foreign investments. The paper concludes that harmonization of different legal regimes is needed to ensure more effective protection of foreign investments, while simultaneously respecting the legitimacy of state measures taken to protect national security during armed conflicts.

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