Latest / UCL Uncovering Politics
Settling Disputes Between Governments and Investors
In the wake of the 1917 Russian Revolution, the new Bolshevik regime, keen to destroy the power of global capital, expropriated the commanding heights of the Russian economy and repudiated a mountain of foreign debt incurred by the Tsar. That action left thousands of international investors out of pocket. But addressing their claims proved exceptionally hard. Only in 1986, in the era of Thatcher and Gorbachev, did the British and Soviet governments finally reach a settlement. Other Western powers agreed resolutions later still.
The story of this episode is fascinating in itself, but it also…
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