The case pertains to the war between Russia and Ukraine and the claimed impact of military operations on the bank’s operations. It lost these following Russia’s military actions in Ukraine after Russia’s full-scale invasion in 2022, the bank has said. Greek arbitrator and National University of Singapore (NUS) professor Stavros Brekoulakis was chosen by Oschadbank, while Chandrachud was appointed by Russia. The bank initiated the arbitration after Russia allegedly failed to respond to a notice of dispute served by the bank in July 2025. The bank has publicly noted that it is documenting all losses incurred since 2022 for recovery through this new claim.