The Investment Standards Construct – An Operational Model for Contemporary Challenges in International Investment Law (With Ukrainian Case Study)

Contemporary investment law is marked by deep fragmentation: a network of thousands of treaties that are not always primarily focused on governing international investment relations, overlapping treatment and protection standards, as well as only partially crystallised customary rules shaped by arbitral practice. Currently this fragmentation is increasingly exacerbated by growing global geopolitical competition and international conflicts, including the ongoing war in Ukraine, thereby intensifying the tension between state security imperatives and the evolutionarily established system of foreign investor protection. The article introduces the concept of the investment standards construct – a holistic methodological model for the systemic analysis of International Investment Agreements (IIAs) and for the design of their modernised content. The proposed legal engineering approach moves beyond conventional element-by-element examination of investment treatment and protection standards (such as fair and equitable treatment, national treatment, prohibition of expropriation, etc.) and instead considers them in their dynamic interplay with procedural and other guarantees as well as legal limitations, including right to regulate and security exceptions. The new model’s applicability is demonstrated through doctrinal analysis and arbitral practice, including the current Ukrainian case cluster and other significant disputes. The study shows how the construct functions as an operational tool for both assessing disputes in contexts of economic development and conflict, as well as for designing more resilient and balanced IIAs capable of aligning investor protection with contemporary regulatory needs.