LAST TIME DECISION Romania withdraws from an international Energy Treaty, but does not escape the arbitrations in which it was claimed by foreign companies as a party to the Treaty
Judge's gavel. Photo: Dreamstime
Romania is withdrawing from the Energy Charter Treaty (TCE), an international agreement concluded in the 90s by the states of Europe and the former Soviet Union, which establishes the principles of cross-border collaboration in the field and which also contains provisions on the protection of foreign investments in the energy sector, allowing leading companies to initiate international arbitration proceedings against the authorities of other countries that are parties to the Treaty, on the territories to which they operate, if they are considered prejudiced by their decisions.
″The withdrawal of Romania from the Energy Charter Treaty is approved. The Ministry of Foreign Affairs will inform the depositary of the Treaty about Romania's decision to withdraw”, the draft law approved today by the Government provides.
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Judge's gavel, legislation, international treaties. Photo: Dreamstime
