The scientific seminar on the topic: “ISDS reform: an inside look”
On May 23, 2026, the Laboratory for the Study of Public Interest Protection under Economic Sanctions held a scientific seminar entitled “ISDS reform: an inside look”.
This lecture aims to provide a more nuanced examination of the ISDS mechanism. While ISDS was designed to depoliticize disputes and encourage foreign investment, it has increasingly faced a legitimacy crisis due to concerns over inconsistent rulings, high costs, perceived arbitrator bias and encroachments on states' regulatory powers. We will then focus on the landmark reform efforts underway at the United Nations Commission on International Trade Law (UNCITRAL), exploring its Working Group III’s proposals. We will assess whether these UNCITRAL reforms can successfully balance investor protection with the right of states to regulate in the public interest. We will also discuss the latest trends in ISDS in the post-2020 era and examine pertinent reform efforts related to provisions in International Investment Agreements (IIAs).
Speaker:
Yulia Dragunova serves as Commercial Counsellor at the Permanent Mission of the Russian Federation to the United Nations in New York. In this capacity, she oversees a broad portfolio encompassing trade, investment, commodities, transport and transit, sustainable infrastructure, climate, and the unique challenges faced by States in vulnerable situations, including Small Island Developing States (SIDS), Least Developed Countries (LDCs), and Landlocked Developing Countries (LLDCs). She also leads engagements on UN-private sector cooperation, notably through the UN Global Compact, and steers negotiations on these matters in the Second Committee of the UN General Assembly.
Prior to her current posting, Ms. Dragunova represented the Russian Federation at the UN Commission on International Trade Law (UNCITRAL) and the International Institute for the Unification of Private Law (UNIDROIT). In that role, she headed the Russian delegation in the UNCITRAL Investor-State Dispute Settlement (ISDS) reform process and within the UNCITRAL Working Group on Dispute Settlement, in addition to advancing the Russian initiative on the legal aspects of paperless trade.
Earlier in her career, Ms. Dragunova practiced as a lawyer with leading law firms in Moscow and London, specializing in international dispute resolution.
