Blockades and international investment treaties.

The article focuses on the legal treatment of blockades under international law and the potential for foreign investors to bring investment treaty claims arising from such blockades. It explains that blockades are recognized as a legitimate wartime measure under customary international law, as codified in the 1994 San Remo Manual, but the legality of recent blockades on Yemen and Qatar remains uncertain due to limited case law and procedural challenges. The article further explores how international investment treaties may protect foreign investors affected by blockades, noting that investors with assets in blockading States may have grounds to claim damages under standards such as expropriation, national treatment, most-favored-nation treatment, and fair and equitable treatment, while investors in blockaded States face significant hurdles in seeking redress. Recent claims by Qatari investors against blockading Arab States illustrate these complexities, highlighting the evolving intersection of international law on blockades and investment protection.