International Economic Law


8 April 2013

SHARES Seminar: Practice of Shared Responsibility in International Economic Law

This SHARES Seminar will discuss papers reviewing the practice of shared responsibility in the field of international economic law. (more…)


31 October 2012

EU and individual member states need to reconsider trade with Israeli settlements

A consortium of 22 European non-governmental organisations (NGO’s) published a report on 30 October 2012, entitled: Trading Away Peace: How Europe helps sustain illegal Israeli settlements.

This report concludes that while the European Union (EU) consistently condemns Israel’s settlement policy, and defines Israeli settlements in the occupied Palestinian territories as being illegal under international law, EU policies help sustain Israeli settlements because of (heavy) trade with these settlements. The report recommends concrete measures that individual member states or the EU can take in order to make sure their policies do not (in)directly support settlements.

Source: The Guardian | EU urged to re-think trade deals with Israeli settlements in West Bank
Source: Der Spiegel | Activists Seek Ban on Trade with Israeli Settlers
Source: Report | Trading Away Peace: How Europe helps sustain illegal Israeli settlements

8 October 2012

Finding of contributory negligence by ICSID Tribunal

On 5 October, the tribunal in Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11 issues its final award.

The tribunal awarded Occidental about $1.77 billion, having found both expropriation and breach of the duty of fair and equitable treatment.  That sum reflected a 25% reduction on account of contributory negligence by Occidental.

The Tribunal found that “it is not any contribution by the injured party to the damage which it has suffered which will trigger a finding of contributory negligence. The contribution must be material and significant. In this regard, the Tribunal has a wide margin of discretion in apportioning fault.” (para. 670)

Source: Investment Treaty Arbitration | Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11

3 September 2012

Money moved from China to Iran in disregard of financial sanctions

According to prosecutors from the United States (US), there is evidence that Chinese banks may have disregarded the financial sanctions imposed on Iran. Chinese banks are suspected of moving large amounts of dollars on behalf of Iranian companies and banks. Last month, the US imposed sanctions against the ‘Bank of Kunlun’, because the bank ‘facilitated transactions worth millions of dollars on behalf of Iranian banks.’

Source: New York Times | Prosecutors Link Money From China to Iran

22 August 2012

Russia joins WTO

After 18 years of negotiations, the Russian Federation joined the World Trade Organization as its 156th member on 22 August 2012. The country will now lower its import duties, limit its export duties and grant greater market access to other WTO members. Moreover, Russia will be subject to the WTO’s dispute settlement system.

Source: BBC | Russia's entry to World Trade Organization hailed by EU

4 July 2011

UNCTAD and UAM announce a Call for Papers

UNCTAD and Universidad Autónoma de Madrid are organizing a conference taking place in Madrid in March 2012 in order to discuss UNCTAD’s draft Principles for promoting responsible sovereign lending and borrowing.

For this conference, a call for papers has been released and all interested scholars and practitioners are encouraged to submit their work on the relevant topics before 4 October 2011. Details of the call for papers can be found in English and Spanish below.



1 July 2011

Draft Principles on Promoting Responsible Sovereign Lending and Borrowing

The United Nations Conference on Trade and Development has finalized a set of proposed principles intended to establish clear responsibilities for borrowers and lenders of sovereign debt. Work on the proposed standards began at the height of the global financial and economic crisis in 2009. Prior to the development of the principles, the United Nations General Assembly stressed the need for creditors and debtors to “share responsibility” for preventing unsustainable debt situations and encouraged Member States, the Bretton Woods institutions, regional development banks and other relevant multilateral financial institutions and stakeholders to pursue discussions to promote responsible sovereign lending and borrowing within the framework of the UNCTAD initiative.