On 18 January 2024, Steptoe and the British Institute of International and Comparative Law (BIICL) held a launch event for their joint empirical study on performance requirement prohibitions (PRPs) in international investment agreements (IIAs) (recording and publication available here).
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European Parliament and Council Adopt New Trade Instrument to Defend European Interests from Economic Coercion
On 23 October 2023, the Council of the European Union adopted a regulation known as the Anti-Coercion Instrument (ACI), a new trade instrument which will enable the European Union (EU) and its Member States to respond to so-called ‘economic blackmail’…
Amid Growing Trade Tensions, U.S. Imposes Unprecedented Restrictions on Outbound Investments to China
On August 9, 2023, the Biden administration issued a much-anticipated Executive Order establishing a new regime to limit certain U.S. investments in key Chinese technology sectors to prevent the financing of Chinese military advancement. The order, once implemented via regulation,…
We’ll always have Paris? European Commission formally proposes the withdrawal of the European Union from the Energy Charter Treaty, invoking the Paris Agreement
On 7 July 2023 the European Commission published a formal proposal for the withdrawal of the European Union (EU) from the Energy Charter Treaty (ECT or the Treaty). The move comes after many years of intensive efforts (notably by the…
Officially Coming to a Country Near You: the UK Set to Accede to the CPTPP
The United Kingdom (UK) is officially set to sign the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) at the CPTPP Ministerial-level Meeting, which is scheduled to take place on 15-16 July 2023 in Auckland, New Zealand.
As we previously…
Unveiling the Landmark IPEF Supply Chain Agreement
The members of the Indo-Pacific Economic Framework (IPEF) reached a significant milestone at the IPEF Ministerial Meeting in Detroit, Michigan with the substantial conclusion of negotiations on a landmark Supply Chain Agreement. This agreement, involving all 14 IPEF member countries…
A New Code of Conduct for Arbitrators May Soon Be Available to Parties in Investor-State Disputes—But No Ban on Double-Hatting
On April 28, 2023, the Secretariats of the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL) published the final draft of the Code of Conduct for Arbitrators in International Investment…
A Ray of Sunshine for Solar Energy Investors: High Court of Australia Rejects Spain’s Sovereign Immunity Plea Against Recognition and Enforcement of ICSID Arbitral Award
Introduction
On April 12, 2023, the High Court of Australia (High Court) rendered a unanimous judgment affirming that a foreign state was not immune from proceedings seeking recognition and enforcement of an International Centre for Settlement of Investment Disputes (ICSID)…
Coming to a Country Near You: The U.K. Announces Imminent Accession to the CPTPP – Including Its Investment Chapter
The United Kingdom’s (U.K.) accession to the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership (CPTPP) might have been a bumpy ride, but it will soon come to fruition. While all eyes are on the trade implications of the CPTPP, another…
EU Court recognizes transnational subsidies are countervailable
On 1 March 2023, the EU’s General Court delivered its judgment in Case T‑540/20, Jushi Egypt for Fiberglass Industry v Commission, ruling that the EU’s anti-subsidy Regulation does not preclude the countervailing of subsidies that are granted by a foreign…