The Protection of Russian Investments in the EU Energy Market: Implications of Russia's Possible Re-Accession to the Energy Charter Treaty

Abstract

This paper analyses the ECT from the perspective of the protection of Russian investments in downstream energy markets, in particular in the EU. Based on a primarily legal approach, this paper takes the Russian perspective and focuses on jurisdictional issues relating to the possibility for Russian investors to challenge EU and national energy law before independent arbitral tribunals. The objective of this analysis is to contribute to the debate on Russia’s potential re-accession to the ECT in the context of the modernization of the Energy Charter process and taking into account Russia’s draft Convention on Energy Security. More specifically, this paper aims to propose a critical analysis of the added value that re-acceding to the ECT would represent for the protection of Russian investors abroad.