On September 30, 2022, Russian President Vladimir Putin purported to annex four Ukrainian provinces: Luhansk, Donetsk, Kherson, and Zaporizhzhia. This escalation is likely to trigger investment treaty claims against Russia.
The impacts that TPP-11 will have then must be analyzed in an integral way, not by chapters. For years now, from various academic and social sectors, we have been explaining that agreements such as the TPP-11 are negative in their entirety.
The recent experience of the countries that have already ratified the TPP-11 and begun to operate, has demonstrated the character of this treaty and its pro-business tribunals, which is nothing more than an insurance for large corporations on their profits and markets.
The South Korean government is found to have spent nearly $40 million in litigation expenses for its decade-long legal dispute against US private equity firm Lone Star Funds.
An international treaty that hamstrings governments’ ability to make climate policy is still in force – and an attempted overhaul has not worked. This is why the EU and its member states need to walk away from the Energy Charter Treaty.