New Challenges to the Concept of Sovereign Immunities

State immunities are based on the fundamental principles of international law, on the universal equality of States. “Par in parem non habet imperium” (“An equal has no power over an equal”) – is the basic premise for all the actors of the international law relations to be guided by. Despite the sporadic violations of the principle of sovereign equality, it has been for hundreds of years that State immunities have been recognized by the international community as a basic guarantee of the stability of the system of international relations. However, even time-tested and developed institutes of international law can erode due to unfair practices of certain States, and this prompts unwanted revision of approaches to the main premises of international law. It can be accepted already that the concept of sovereign immunities has been hit by massive blurring caused by commercial and political interests of States and their unions. It is especially noticeable with the assets of central banks and diplomatic property abroad. Will the concept of sovereign immunities withstand the geopolitical challenges? Will it be possible to restore the true equality and balance of the interests of States?