Sunset Clauses in International Law and their Consequences for EU Law
PE 703.592
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among the EU Member States, in order to terminate immediately Intra-EU BITs.
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In fact, a
termination
agreement was reached on 5 May 2020 with a specific reference on the termination of the Intra-EU BITs
including the sunset clauses.
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Such termination agreement in reality gives effect on the CJEU's ruling
in Achmea. Given that some EU Member States did not join the termination agreement, investment
tribunals are expected to continue to deliver awards based on the remaining intra-EU BITs.
However, the enforcement of awards from arbitration tribunals creates a point of contact between the
EU system and the investment arbitration system, (with the exception of ICSID awards)
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so
long as
such enforcements claims are brought before national courts of the EU Member States. As
aforementioned, a Communication from the Commission to the European Parliament and the Council
stresses that the nations are under the obligation to annul any arbitral award and to refuse to enforce
it.
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