Council Decision (Euratom) 2024/1847 of 25 June 2024 on the denial of advantages under Part III of the Energy Charter Treaty by the European Atomic Energy Community (Euratom) to any legal entity that is owned or controlled by citizens or nationals of the Russian Federation or of the Republic of Belarus and to any investment within the meaning of the Energy Charter Treaty which is an investment of an investor of the Russian Federation or of the Republic of Belarus

• CELEX: Decision (Euratom) 2024/1847
• Articles: 4

Article 1

1.   The denial by Euratom, pursuant to Article 17(1) of the Energy Charter Treaty, of the advantages of Part III of that agreement to any legal entity that is owned or controlled by citizens or nationals of the Russian Federation or of the Republic of Belarus, and that has no substantial business activities in the Area of the Contracting Party, or former Contracting Party, in which it is organised, is hereby approved.

2.   The denial by Euratom, pursuant to Article 17(2), point (b), of the Energy Charter Treaty, of the the advantages of Part III of that agreement to any investment of an investor of the Russian Federation or of the Republic of Belarus in the circumstances described in that provision is hereby approved.

Article 2

The circulation of the Declaration in the Annex by the Commission within the Energy Charter Conference is hereby approved.

Article 3

This Decision is addressed to the Commission.

Schedules & Appendices

ANNEX DECLARATION

ANNEX

DECLARATION

on behalf of the European Union, the European Atomic Energy Community (Euratom) and Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden

The European Union, the European Atomic Energy Community (Euratom) and the above-mentioned Member States that are, or have been, Contracting Parties to the Energy Charter Treaty (the ‘Agreement’) herewith deny the advantages of Part III of the Agreement to:

(1)

any legal entity that is owned or controlled by citizens or nationals of the Russian Federation or of the Republic of Belarus and that has no substantial business activities in the area of the Contracting Party, or former Contracting Party, in which it is organised, pursuant to Article 17(1) of the Agreement; and

(2)

any investment within the meaning of the Agreement which is an investment of an investor of the Russian Federation or of the Republic of Belarus, pursuant toArticle 17(2), point (b), of the Agreement.

The Union and its Member States have adopted and maintain restrictive measures against the Russian Federation over its war of aggression against Ukraine, as well as against the Republic of Belarus as accomplice in this war of aggression. The restrictive measures include measures that (i) prohibit transactions with investors of the Russian Federation and of the Republic of Belarus, and (ii) would be violated or circumvented if the benefits of Part III of the Agreement were accorded to investors of those states or to their investments.