Slovenia will withdraw from Energy Charter Treaty

Slovenia annouced that will withdraw from Energy Charter Treaty after the Parliament’s Foreign Affairs Committee unanimously moved forward with government’s proposal to withdraw on 16 November.The parliamentary commitee voted Slovenia to withdraw from Energy Charter Treaty in full agreement.

The decision comes after the UK energy and natural resources company Ascent Resources initiated an arbitration proceeding against Slovenia under the Energy Charter Treaty after complications emerged in the country’s green-lighting the company’s gas project near Lendava in the northeast.

The government said that one of the most outdated aspects of the treaty is the instrument of investment dispute resolution, which allows investors to take a signatory to international arbitration while bypassing regular courts.

Slovenia joins Italy, which has already withdrawn from the treaty, while Poland, Spain, the Netherlands, and France announced they would do the same.

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