Recent developments regarding the impact of EU law on international investment law and arbitration in Europe and beyond

Abstract

This article examines recent developments in international investment law alongside 
significant changes in European Union (EU) law, with a focus on both substantive and procedural aspects of investor-State dispute settlement (ISDS). It analyses the EU’s efforts to terminate intra EU bilateral investment treaties (intra-EU BITs) and their implications for investors. Particular attention is given to the implications of the withdrawal of the EU and several of its Member States from the Energy Charter Treaty (ECT), the challenges investors face when enforcing favourable awards, and the increasing shift towards enforcement in jurisdictions outside the EU, i.e., such as the US, UK, Australia, and Switzerland. The article also reviews UNCITRAL Working Group III’s en deavours to transition to the proposed Multilateral Investment Court (MIC), while also addressing recent trade agreements concluded by the EU with major international partners.