The legitimacy of the expropriation of the foreign investors; an investigation to Iran and international law

Subject Areas : Bi-quarterly Journal of development economics and planning

Mohammad Sadegh  Teimoori ¹ (Assistant Professor, Faculty of Law, Khomeini Shahr Branch, Islamic Azad University, Isfahan, Iran)

Received: 2023-01-13 Accepted : 2023-10-24 Published : 2023-02-20

Keywords: Foreign Investment, legitimacy of the expropriation, public purpose, non-discriminatory, payment of compensation,

Abstract :

International customary law apparently provides a set of specific, known and established principles to control the legal actions of expropriation of foreign investors. Expropriation of property from foreigners can also lead to the creation of international responsibility for the expropriating government; Unless this work is done based on special conditions, i.e. public interest and in a non-discriminatory manner, and in exchange for compensation. This compensation must be fair, immediate and complete. Considering the vagueness of each of the above three terms and the lack of a clear definition of them on the one hand, as well as providing a precise framework on the other hand, the current practice of international arbitration authorities considers case study to be the best tool in resolving disputes arising from foreign investment expropriation claims. Our attempt in this research will be to examine each of these conditions in the domestic legal system, international documents, and especially the perception of each of them by arbitration authorities.