The European Union Thursday announced that it took the final and formal step of exiting from the Energy Charter Treaty.
The President of the Council, represented currently by Belgium, today gave written notification to the depositary of the Energy Charter Treaty of the withdrawal of the Union from the Energy Charter Treaty. The withdrawal will take effect one year after the depositary has received the notification, said an EU statement.
The Brussels-based Energy Charter Treaty is a multilateral agreement that entered into force in 1998 and which contains, amongst other things, provisions on investment protection, dispute settlement, transit and trade in the energy sector.
Source: Kuwait News Agency