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  3. Part VI: Transitional Provisions
  4. Article 29: Interim Provisions on Trade-Related Matters
  5. 29(2)

(a) Trade in Energy Materials and Products and Energy-Related Equipment between Contracting Parties at least one of which is not a member of the WTO shall be governed, subject to subparagraph (b) and to the exceptions and rules provided for in Annex W, by the provisions of the WTO Agreement, as applied and practised with regard to Energy Materials and Products and Energy-Related Equipment by members of the WTO among themselves, as if all Contracting Parties were members of the WTO.

(b) Such trade of a Contracting Party which is a state that was a constituent part of the former Union of Soviet Socialist Republics may instead be governed, subject to the provisions of Annex TFU, by an agreement between two or more such states, until 1 December 1999 or the admission of that Contracting Party to the WTO, whichever is the earlier.

Notwithstanding the listing of paragraph 6 of article XXIV of the GATT 1994 in Annex W (A)(1)(a)(i), any signatory affected by an increase in customs duties or other charges of any kind imposed on or in connection with importation or exportation referred to in the first sentence of that paragraph, is entitled to seek consultations in the Charter Conference.

(a) Where a provision of [WTO]1 referred to in this paragraph provides for joint action by [Members of the WTO]2, it is intended that the Charter Conference take such action.3

 

1Editor's note: original "GATT 1947 or a Related Instrument", adapted by editors.

2Editor's note: original "parties to the GATT", adapted by editors.

3Editor's note: part (b) of the Understanding became irrelevant following the entry into force of the Amendment to the Trade-Realted Provisions of the Energy Charter Treaty.

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Khan Resources Inc., Khan Resources B.V., Cauc Holding Company Ltd. v. Mongolia, UNCITRAL

  • >Claimant : Khan Resources Inc.; Khan Resources B.V.; Cauc Holding Company Ltd.
  • >Nationality : Canada, Netherlands, British Virgin Islands
  • >Respondent : Mongolia
  • >Procedural rules applied : UNCITRAL (PCA)
  • >Chair : David Williams
  • >Arbitrator appointed by Claimant : Yves Fortier
  • >Arbitrator appointed by Respondent : Bernard Hanotiau
  • >Invoked instruments : ECT and domestic investment law
  • ECT
  • >Articles mentioned : Article 17 (1)
  • , Article 10 (12)
  • , Article 10 (7)
  • , Article 10 (1)
  • , Article 1 (7)
  • , Article 2
  • , Article 13
  • , Article 26
  • , Article 46
  • >Breaches alleged :  
  • >Breaches found :(10.1) Umbrella clause
  • >Case status : Award rendered
  • >Year of the award or agreement : 2015
  • >Follow-on proceedings : Pending national court decision on annulment
  • >Year of registration : 2011

  • >Subject matter of the dispute: Claims arising out of Mongolia’s cancellation of claimant's mining and exploration licenses for a uranium deposit
  • >AInvoked instruments: ECT and Foreign Investment Law of Mongolia
  • >Amount claimed: USD 326 million
  • >Amount awarded: USD 80 million
  • >Valuation method: market-based approach (arm's length offer)
  • >Interest rate: LIBOR + 2%
  • >Costs of arbitration: EUR 634,882.37
  • >Award legal costs: Claimant was awarded USD 9,074,143.51
  • >Award costs of arbitration: Costs follow the award

 

ARBITRAL DECISIONS

25 July 2012

Decision on Jurisdiction

2 March 2015

Arbitral Award