ICSID releases updated rules proposal and compendium of State and public comments

On 15 March 2019, following public consultations with states and stakeholders, ICSID released its second draft working paper of its proposed amendments to its body of rules.  In the “most comprehensive” exercise at amending its rules in ICSID’s history (the last one being over 13 years ago) the proposed amendments cover – amongst others – … Read more

LANDMARK RULING ON THE WTO NATIONAL SECURITY EXCEPTION

In a landmark decision concerning Ukraine’s complaint against Russia’s transit restrictions, a WTO Panel has ruled for the first time on the nature of the GATT national security exception. The Panel took the view that the invocation of the exception is justiciable and subject to scrutiny by the WTO Dispute Settlement Body (DSB). This is contrary to the position … Read more

INTERNATIONAL TRIBUNAL FOR THE LAW OF THE SEA PRESCRIBES PROVISIONAL MEASURES REQUIRING RUSSIA TO RELEASE THREE UKRAINIAN NAVAL VESSELS

Following an incident last November, the International Tribunal for the Law of the Sea (“ITLOS”) has prescribed provisional measures requiring Russia to release three Ukrainian naval vessels. Background The November 2018 incident and institution of arbitration In late November 2018, the Russian coast guard arrested and detained three Ukrainian naval vessels near the Kerch Strait … Read more

CJEU CONFIRMS THAT CETA DISPUTE RESOLUTION PROVISION IS COMPATIBLE WITH EU LAW

On 30 April 2019, the Court of Justice of the European Union (“CJEU“) confirmed that the mechanism for the settlement of disputes between investors and states set out in the Comprehensive Economic and Trade Agreement between the EU and Canada (“CETA“) was compatible with EU law. This confirms the Attorney General’s opinion discussed here. The … Read more

DJIBOUTI BECOMES 163RD SIGNATORY OF THE ICSID CONVENTION

The Republic of Djibouti is the latest country to become a signatory to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention).  Djibouti’s Minister of Economy and Finance, Ilyas Moussa Dawaleh, signed the ICSID Convention on 12 April 2019.  Djibouti must now ratify the ICSID Convention … Read more