Russia and the Energy Charter Treaty
The following letter from the law professor Emmanuel Gaillard, representing the former shareholders of Yukos, was published in the Financial Times.
From Prof Emmanuel Gaillard.
Sir, Almost unnoticed, Vladimir Putin, the prime minister, announced in July that Russia will withdraw from the Energy Charter Treaty. This is a significant setback for its European partners. Since its adoption in 1994, the ECT has established a unique balance and a level playing field in the energy sector for all 50 partners, including Russia.
This is a signal to the international community that Russia refuses to live by its international commitments and is not interested in protecting future energy investments.