• Journal of Arbitration Studies
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• v.24 no.1
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• pp.45-58
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• 2014

It is a well recognised rule in international law that the property of aliens cannot be taken. The question of whether indirect expropriation and government regulatory measures require compensation is an important issue in international investment law. Bilateral investment treaties and other investment agreements contain brief and general indirect expropriation provisions. These focus on the effect of government action and do not address the distinction between compensable and non-compensable regulatory actions. It is generally accepted that a state is not responsible for loss of property or for other economic disadvantages resulting from bona fide general taxation accepted as within the police power of states, provided it is not discriminatory. Yukos Oil Company is a Russian oil and gas company engaged in exploration, refining, and marketing activities. It is one of the largest oil and gas companies in the world. Yukos Oil Company has its production operations in Russia and markets its products in Europe. An international tribunal ordered the Russian government to compensate a group of Spanish investors for the losses they suffered when Russia seized the Yukos Oil Company on July 26, 2012. This has been the subject of several judicial proceedings and academic publications. This paper explores which circumstances do not lead to taxation amounting to expropriation. The author suggests that under the following circumstances, taxation would not amount to expropriation. First, taxation should be non-discriminatory. Also a lawful exercise of the taxation powers of governments would not amount to expropriation.

• Journal of the Korean association of regional geographers
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• v.10 no.1
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• pp.110-131
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• 2004

The goal of the study is to analyze aggressive attempts of China and Japan to construct the Siberia oil pipeline in a direction to its advantage from the political economic perspective. The pipeline is to affect significantly energy Policies in the Northeast Asia in the future. First this Paper reviews the ongoing Processes of the Pipeline construction thus far. Next, domestic and foreign factors in Russia which are related to the laying of the pipeline, were taken into consideration. Applicability of the mercantilist and liberalist approaches to the energy supply of Russia were examined in the situation. As a result, the dualistic approach in energy supply was found to be limited in its real applicabilities and the political economic approach proved to be more suitable in that Russia currently seeks economic security in Northeast Asia. Finally the implications of the Siberia oil pipeline construction were suggested for the current energy situation in Korea.