Law: Energy Charter Treaty
Hungary at odds with EU over declaration on Komstroy
Hungary has broken with other EU member states over their understanding of the effects of the European Court of Justice’s ruling in Komstroy – declaring that international law requires the Energy Charter Treaty be amended by its signatories to ensure its non-applicability to intra-EU disputes.
03 July 2024
EU notifies withdrawal from Energy Charter Treaty
The European Union has formally notified its withdrawal from the Energy Charter Treaty, as member states sign a declaration on the inapplicability of the treaty’s arbitration provisions to intra-EU disputes.
27 June 2024
Hungary’s MOL brings new claim against Croatia
Hungarian oil and gas group MOL has filed a new Energy Charter Treaty claim against Croatia, while it waits to see if the US courts will enforce a US$261 million award it won against the Balkan state two years ago.
21 June 2024
Yukos shareholders complete auction of Russian vodka trademarks
The former majority shareholders of Yukos say they have auctioned several Russian state-owned vodka trademarks, calling it the first successful enforcement of awards worth US$60 billion that they won against Russia a decade ago.
17 June 2024
Maltese solar investor pursues Bulgaria over intra-EU award
A Maltese investor has asked a US court to enforce a €70 million Energy Charter Treaty award against Bulgaria in an intra-EU dispute over the state’s reforms to its renewable energy incentives regime.
17 June 2024
Two ECT panels rule against Spain
ICSID tribunals have handed down decisions in two Energy Charter Treaty cases against Spain arising from changes to its incentives regime for renewable energy – holding the state liable in one case and ordering it to pay damages in the other.
07 June 2024
Italy overturns intra-EU award in Sweden
A Swedish court has invalidated an Energy Charter Treaty award that required Italy to pay €11 million to a Dutch renewable energy investor, finding it was incompatible with EU law.
31 May 2024
EU Council gives final approval for exit from Energy Charter Treaty
The Council of the European Union has given the “final green light” for the withdrawal of the EU and its nuclear agency from the Energy Charter Treaty under a compromise that it hopes will break the deadlock over the treaty’s modernisation.
31 May 2024
UK pulls out of Energy Charter Treaty
The United Kingdom has made good on its promise to withdraw from the Energy Charter Treaty over the failure of efforts to align it with climate change goals.
29 May 2024
Bulgarian insurer relies on sunset clause for intra-EU claim
A Bulgarian insurance investor has made good on its threat to file a €500 million ICSID claim against Romania – a case that will test whether sunset clauses in terminated intra-EU investment treaties are still effective.
22 May 2024