Moldova has decided to withdraw from the Energy Charter Treaty
The Moldovan government has endorsed a draft resolution on the country's withdrawal from the Energy Charter Treaty (ECT).
This was reported by Point, citing ipn.md.
Moldovan Energy Minister Dorin Junghiu said that the Energy Charter Treaty has become increasingly controversial in recent years due to the expanded protections granted to foreign investors.
He mentioned the investor-state dispute settlement mechanism, which allows for challenging state decisions in international arbitration, particularly in sensitive areas of state regulation.
According to Jungietu, such procedures can be costly and lead to substantial compensation, calling into question the balance between investment protection and the state’s right to independently shape public policy. He also noted that at the EU level, courts have ruled that investor-state arbitration is incompatible with European law within the framework of intra-European relations.
Moldova has synchronizedits transition to daylight saving time with the EU and Ukraine.
The Moldovan Cabinet of Ministers approved the introduction of a state of emergency in the energy sector for 60 days. The final decision will be made by parliament at an extraordinary session today at 5:00 p.m.
Earlier reports indicated that Moldova may declare a state of emergency in the energy sector on March 24 for a period of 60 days amid massive Russian strikes on Ukraine’s power grid.
