1. The Union shall deny, pursuant to Article 17(1) of the Energy Charter Treaty, 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.
2. The Union shall deny, pursuant to Article 17(2), point (b), of the Energy Charter Treaty, 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.
The Commission shall, on behalf of the Union, give effect to this Decision by circulating the Declaration in the Annex within the Energy Charter Conference.
DECLARATION
ANNEXSupplementary provisions
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 to Article 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.
