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Mitrev Penusliski Ilija

Ilija Mitrev Penusliski


Ilija Mitrev Penusliski is counsel in Shearman & Sterling’s International Arbitration and Public International Law Groups. He has experience in international arbitrations under the ICSID, UNCITRAL, SCC and ICC Rules, with a focus on investment and energy disputes. He has also acted as Assistant to the Tribunal in ICSID proceedings.

Before joining Shearman & Sterling, Ilija was a Visiting Researcher at Harvard Law School. He also has experience with the International Criminal Tribunal for the former Yugoslavia and served as a legal advisor with Booz Allen Hamilton in relation to a USAID project in Macedonia.

Selected Experience

Recent or pending international arbitration matters on which Ilija Mitrev Penusliski has worked include the representation of:

  • The Republic of Lithuania as Respondent in an ICSID arbitration brought by Veolia Environnement S.A. and others in relation to district heating and power generation systems in Lithuania (ICSID Case No. ARB/16/3). The claims are brought under the Lithuania-France bilateral investment treaty.
  • The majority shareholders in the former Yukos Oil Company as Claimants in a series of three arbitrations against the Russian Federation in relation to the expropriation of their investment in the company. The claims were brought under the Energy Charter Treaty, a multilateral treaty governing trade and investment in the energy sector. The Arbitral Tribunal ordered the Russian Federation to pay over USD 50 billion in damages. We continue to advise our clients in the post-award phase.

Recent Speaking Engagements

  • "False Arbitrability: Arbitrability and Investment Treaty Disputes," 2017 Belgrade Arbitration Conference, Faculty of Law, University of Belgrade (Mar. 2017) 
  • "The Notion of 'Investor' / 'National' in International Investment Treaties and the ICSID Convention," Lecture at Sciences Po Law School, Paris (Jan. 2017)
  • "Investment Arbitration: A View from Private Practice," Lecture at Koç University, Istanbul (June 2016)
  • "The Notion of “Investor” in the Energy Charter Treaty," ICC YAF conference on the ECT and Renewables, ArbLit, Milan (Apr. 2016)
  • "Enforcing Against a State: Practical Considerations," ICC YAF conference on Investment Arbitration, Graduate Institute, Geneva (Sept. 2015)


  • Research Assistant, New York Convention Guide Project (www.newyorkconvention1958.org)
  • Author, "A Dispute Systems Design Diagnosis of ICSID," in The Backlash against Investment Arbitration 507 (M. Waibel et al. eds., Kluwer Law International, 2010)


  • Harvard Law School, LL.M.
  • University of Oxford, Magister Juris
  • Ss. Cyril and Methodius University in Skopje, Macedonia, LL.B.



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