Deciphering the OIC Investment Agreement in Light of the Itisaluna v. Republic of Iraq Award
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May 24, 2022
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Abstract
Promulgated in 1981, the purpose of the Agreement on Promotion and Protection and Guarantee of Investments among Member States of the Organization of the Islamic Conference (nowadays the Organization of Islamic Cooperation) (the “OIC Investment Agreement” or the “Agreement”) is to provide guidelines for the treatment of investments between member States of the Organization. The Agreement provides for investor compensation if the State hosting the investment breaches the Agreement’s substantive terms. Disputes arising under the OIC Investment Agreement are subject to the resolution provisions in Article 17, which provides for conciliation and arbitration. Although, since its entry into force, several investors have attempted to make use of its dispute resolution mechanism, since information on the outcome of these cases is limited. The two arbitral awards that are publicly available, in conjunction with recent practice followed by investors, reveal that the dispute settlement provisions of the Agreement are not free from ambiguity. In light of the recent Itisaluna Iraq LLC and others v. Republic of Iraq case, this article sets out to elucidate a series of problematic issues pertaining to the interpretation and the application of the Agreement’s dispute settlement provisions, as they have risen from publicly availably arbitral awards and other decisions. These include whether: a) the Agreement provides for investor-State dispute settlement; b) conciliation is a precondition to arbitration; and c) investors can use the Most Favored Nation clause (MFN) of the Agreement for dispute settlement purposes. These issues are of significance for pending and future cases under the OIC Investment Agreement. Given the ambiguities of the language of the OIC Investment Agreement, it is preferable that future claimants follow the OIC dispute settlement process as faithfully as possible. Such an approach will immunize them to a great degree from jurisdictional pitfalls of importing separate dispute resolution frameworks via MFN.
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Keywords
OIC Investment AgreementInvestor-State arbitrationConsent to arbitrationConciliationMost Favored Nation Clause (MFN)
References
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––––, An Update on Investor Arbitration Claims under the Organization for Islamic Cooperation Investment Treaty, Investment Arbitration Reporter, August 15, 2018, https://www.iareporter.com/articles/an-update-on-investor-arbitration-claims-under-the-organization-for-islamic-cooperation-investment-treaty/.
––––, Indonesia Says 1981 Inter-Islamic Pact Does not Offer Consent to Investor-State Arbitration, but Tribunal Uses ‘Contemporary’ Interpretation and Finds Consent, Investment Arbitration Reporter, September 19, 2012, https://www.iareporter.com/articles/analysis-indonesia-says-1981-inter-islamic-pact-does-not-offer-consent-to-investor-state-arbitration-but-tribunal-uses-contemporary-interpretation-and-finds-consent/.
––––, Libya Claims Round-up: New Developments under OIC Treaty; Greenwood to Chair a Newly-Filed ICC BIT Case; Two Hearings Loom in Longer-running Arbitrations, Investment Arbitration Reporter, May 7, 2018, https://www.iareporter.com/articles/libya-claims-round-up-new-developments-under-oic-treaty-greenwood-to-chair-a-newly-filed-icc-bit-case-two-hearings-loom-in-longer-running-arbitrations/.
––––, Libya Investment Treaty Claims: Another Claim Surfaces and Another Tribunal is Finalized, Investment Arbitration Reporter, June 29, 2017, https://www.iareporter.com/articles/27731/.
––––, Libya Round-up: New Tribunals, a Discontinuation, and further Details about a Number of Investment Arbitrations against the State, Investment Arbitration Reporter, August 11, 2020, https://www.iareporter.com/articles/libya-round-up-new-tribunals-a-discontinuation-and-further-details-about-a-number-of-investment-arbitrations-against-the-state/.
––––, Libya Wins One and Loses One, as New Bilateral Investment Treaty Awards are Rendered, Investment Arbitration Reporter, February 18, 2020, https://www.iareporter.com/articles/libya-wins-one-and-loses-one-as-new-bilateral-investment-treaty-awards-are-rendered/.
––––, Permanent Court of Arbitration Once Again Steps in to Designate an Appointing Authority after Investor Gets Silent Treatment from Organisation of Islamic Cooperation, Investment Arbitration Reporter, November 6, 2019, https://www.iareporter.com/articles/permanent-court-of-arbitration-once-again-steps-in-to-designate-an-appointing-authority-after-investor-gets-silent-treatment-from-organisation-of-islamic-cooperation/.
––––, Saudi Arabia Faces Another Investor Arbitration Claim under Organisation for Islamic Cooperation Investment Treaty – Brought by Qatar Pharma Firm Affected by Blockade, Investment Arbitration Reporter, March 19, 2019. https://www.iareporter.com/articles/saudi-arabia-faces-another-investor-arbitration-claim-under-organisation-for-islamic-cooperation-investment-treaty/.
Mārtiņš Paparinskis, MFN Clauses and International Dispute Settlement Moving Beyond Maffezini and Plama?, 26 ICSID Review: Foreign Investment Law Journal 14 (2011).
Peter Rosher, Accords multilatéraux de protection de l'investissement de la région du moyen-orient et de l'Afrique du nord: deux exemples d'instruments méconnus mais prometteurs, 3 Cahiers de l’Arbitrage 437 (2017).
Scott Vesel, Clearing a Path through a Tangled Jurisprudence: Most-Favored-Nation Clauses and Dispute Settlement Provisions in Bilateral Investment Treaties, 32 The Yale Journal of International Law 125 (2007).
Sebastian Perry, PCA Ends Standoff over Islamic Treaty Claim, Global Arbitration Review, April 3, 2017, https://globalarbitrationreview.com/pca-ends-standoff-over-islamic-treaty-claim/.
Simon Batifort & J. Benton Heath, The New Debate on the Interpretation of MFN Clauses in Investment Treaties: Putting the Brakes on Multilateralization, 111 American Journal of International Law 873 (2017).
Stephan W Schill, MFN Clauses as Bilateral Commitments to Multilateralism: A Reply to Simon Batifort and J. Benton Heath, 111 American Journal of International Law 914 (2017).
Stephen Fietta, Most Favoured Nation Treatment and Dispute Resolution Under Bilateral Investment Treaties: A Turning Point, 8 International Arbitration Law Review 131 (2005).
Tom Jones, Qatar Airways Launches Treaty Claims over Blockade, Global Arbitration Review, July 22, 2020, https://globalarbitrationreview.com/qatar-airways-launches-treaty-claims-over-blockade.
––––, Saudi Arabia Faces Another Claim over Qatar Blockade, Global Arbitration Review, March 29, 2019, https://globalarbitrationreview.com/saudi-arabia-faces-another-claim-over-qatar-blockade/.
Vladislav Djanic, Qatar Airways Lodges Treaty-Based Arbitration Cases against Four Middle Eastern States, Investment Arbitration Reporter, July 22, 2020, https://www.iareporter.com/articles/qatar-airways-lodges-treaty-based-arbitration-cases-against-four-middle-eastern-states/.
Zachary Douglas, The MFN Clause in Investment Arbitration: Treaty Interpretation Off the Rails, 2, Journal of International Dispute Settlement 97 (2011).
Cases:
Ali Alyafei v. Hashemite Kingdom Jordan (II) (2015).
beIN Corporation v. Kingdom of Saudi Arabia, UNCITRAL, Notice of Arbitration, 1 October 2018.
Cour d’appel de Paris, Recours en annulation de sentence arbitrale, 23 March 2021.
Daimler Financial Services AG v Argentine Republic, ICSID Case No. ARB/05/1, Award (22 August 2012).
D.S. Construction FZCO v. Libya, PCA Case No. 2017-21 (2016).
Emilio Agustin Maffezini v. Kingdom of Spain, Decision of the Tribunal on Objections to Jurisdiction, ICSID Case No. ARB 97/7 (25 January 2000).
Garanti Koza LLP v. Turkmenistan, ICSID Case No. ARB/11/20, Decision on the Objection to Jurisdiction (3 July 2013).
Hesham Al Mehdar v. Arab Republic of Egypt (2018).
Hesham al-Warraq v. The Republic of Indonesia, UNCITRAL, Award on Respondent’s Preliminary Objections to Jurisdiction and Admissibility of the Claims, 21 June 2012.
Hilal Hussain Al-Tuwairqi and Al-Tuwairqi Holding and others v. Islamic Republic of Pakistan (2018).
Itisaluna Iraq LLC and others v. Republic of Iraq, ICSID Case No. ARB/17/10, Award (3 April 2020).
Kiliç v. Turkmenistan, ICSID Case No. ARB/10/1, Award (2 July 2013).
Kontinental Conseil Ingénierie (KCI) v. Gabonese Republic, PCA Case No. 2015-25 (2015).
L.E.S.I v. Algeria, ICSID Case No. ARB/03/08, Award (10 January 2005).
Loewen Group, Inc. and Raymond L. Loewen v. United States of America, ICSID Case No. ARB(AF)/98/3, Award, (26 June 2003).
Members of the Gargour Family v. Libya (2018).
National Grid Plc v. Argentine Republic, UNCITRAL, Decision on Jurisdiction, dated 20 June 2006.
Navodaya Trading DMCC v. Gabonese Republic (2018).
Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11, Decision on Jurisdiction (9 September 2008).
Omar Bin Sulaiman Abdul Aziz Al Rajhi v. Sultanate of Oman, PCA Case No. 2017-32 (2017).
Philip Morris Brands Sàrl, Philip Morris Products S.A. and Abal Hermanos S.A. v. Oriental Republic of Uruguay, ICSID Case No. ARB/10/7, Decision on Jurisdiction (2 July 2013).
Qatar Airways v. Kingdom of Saudi Arabia (2020).
Qatar Airways v. United Arab Emirates (2020).
Qatar Pharma and Ahmed Bin Mohamed Al Haie Al Sulaiti v. Kingdom of Saudi Arabia (2019).
Tekfen and TML v. Libya (2015).
Trasta Energy Limited v. Libya (2019).
Unknown Claimants v. Arab Republic of Egypt (2014).
International Treaties and Other Documents:
Agreement on Promotion and Protection and Guarantee of Investments among Member States of the Organization of the Islamic Conference. Reproduced in UNCTAD, International Investment Instruments: A Compendium Volume II (UN, 1981) 241.
International Law Commission, Final Report of the Study Group on the Most-Favored-Nation clause, UN Doc. A/70/10, Annex (2015).
Vienna Convention on the Law of Treaties, 1969, 1155 U.N.T.S. 331.
Andrea K. Bjorklund, Investment Treaty Law: Current Issues III (2009).
August Reinisch & Christoph Schreuer, International Protection of Investment Treaties: The Substantive Standards (2020).
August Reinisch, Standards of Investment Protection (2008).
Christina Binder & Christoph Schreuer, International Investment Law for the 21st Century: Essays in Honour of Christoph Schreuer (2009).
Ferhat Horchani, Où va le droit de l'investissement: désordre normatif et recherche d'équilibre: actes du colloque organisé à Tunis les 3 et 4 mars 2006 (2007).
Jorge Alberto Huerta-Goldman et al., WTO Litigation, Investment Arbitration, and Commercial Arbitration (2013).
Markus Krajewski & Rhea Tamara Hoffmann, Research Handbook on Foreign Direct Investment (2019).
Marc Bungenberg et al., International Investment Law (2015).
N. Jansen Calamita & Mavluda Sattorova, The Regionalization of International Investment Treaty Arrangements (2015).
Rudolf Dolzer & Christoph H. Schreuer, Principles of International Investment Law (2d Ed. 2012).
Todd Weiler, International Investment Law and Arbitration: Leading Cases from the ICSID, NAFTA Bilateral Treaties and Customary International Law (2005).
Articles:
Audley Sheppard, The Distinction between Lawful and Unlawful Expropriation, 2, World Arbitration & Mediation Review 137 (2008).
Christoph Schreuer, Travelling the BIT Route: Of Waiting Periods, Umbrella Clauses and Forks in the Road, 5 The Journal of World Investment & Trade 231 (2004).
Christopher John Greenwood, Most Favoured Nations Clauses in BITs-What is Their Real Purpose (and Their Real Effect)?-3rd Annual Efila Lecture, 3 European Investment Law and Arbitration Review 343 (2018).
Damien Charlotin, Foreign Investor Fails in Bid to Annul OIC Investment Treaty Award’s Damages Holdings, Investment Arbitration Reporter, June 26, 2019, https://www.iareporter.com/articles/foreign-investor-fails-in-bid-to-annul-oic-investment-treaty-award/.
––––, Revealed: the Reasons Why Arbitrators in Kontinental (KCI) v. Gabon case Saw Breach of Organisation for Islamic Cooperation (OIC) Investment Agreement, but Awarded Limited Compensation, Investment Arbitration Reporter, July 9, 2019, https://www.iareporter.com/articles/revealed-the-reasons-why-arbitrators-in-kontinental-kci-v-gabon-case-saw-breach-of-organisation-for-islamic-cooperation-oic-investment-agreement-but-awarded-limited-compensation/.
Gabrielle Kaufmann-Kohler, Arbitral Precedent: Dream, Necessity or Excuse?: The 2006 Freshfields Lecture, 23, Arbitration International: The Journal of LCIA Worldwide Arbitration 357 (2007).
Global Arbitration Review, Libyan Entity Ordered to Pay in ‘Man-made River’ Dispute, November 6, 2018, https://globalarbitrationreview.com/libyan-entity-ordered-pay-in-man-made-river-dispute/.
––––, Saudi Arabia Faces Billion-Dollar Claim over TV Piracy, October 1, 2018, https://globalarbitrationreview.com/saudi-arabia-faces-billion-dollar-claim-over-tv-piracy/.
––––, Swiss Court Affirms Jordan Award over ‘Fraudulent’ Share Sale, January 30, 2017, https://globalarbitrationreview.com/swiss-court-affirms-jordan-award-over-fraudulent-share-sale.
Hossein Abedian & Reza Eftekhar, Consent to Investor-State Arbitration in the Second Largest International Investment Protection Agreement: The Correct Interpretive Approach to Article 17 of the OIC Investment Agreement, 35 Journal of International Arbitration 59 (2018).
Investment Arbitration Reporter, Daniel Bethlehem to Chair Iraq Case that Relies on Bilateral Investment Treaty and OIC Investment Agreement, August 17, 2017, https://www.iareporter.com/articles/daniel-bethlehem-to-chair-iraq-case-that-relies-on-bilateral-investment-treaty-and-oic-investment-agreement/.
––––, Egypt Arbitration Round-up: Updates on U.S. and German Investor Claims at ICSID., and on Three Ad-hoc Claims under OIC Agreement, November 5, 2014, https://www.iareporter.com/articles/egypt-arbitration-round-up-updates-on-u-s-and-german-investor-claims-at-icsid-and-on-three-ad-hoc-claims-under-oic-agreement/.
Jack Ballantyne, Pakistan Faces Treaty Claim over Steel Plant, Global Arbitration Review, May 16, 2019, https://globalarbitrationreview.com/pakistan-faces-treaty-claim-over-steel-plant/.
James MacDonald & Dyfan Owen, The Effects on Arbitration of the Arab Spring, Global Arbitration Review, April 20, 2016, https://globalarbitrationreview.com/review/the-middle-eastern-and-african-arbitration-review/2016/article/the-effects-arbitration-of-the-arab-spring/.
Jarrod Hepburn & Luke Eric Peterson, As Another Claim is Filed against Libya under the OIC Investment Agreement, Government Goes to Court to Try and Block PCA-enabled Arbitrations under Treaty, Investment Arbitration Reporter, January 13, 2019, https://www.iareporter.com/articles/as-another-claim-is-filed-against-libya-under-oic-investment-agreement-government-goes-to-court-to-try-to-block-pca-enabled-arbitrations-under-treaty/.
––––, Investigation: As New Cases Emerge under Islamic Investment Treaty, Initial Viability of Claims Seems to Hinge on Willingness of Respondents to Appoint Arbitrators, Investment Arbitration Reporter, March 2, 2017, https://www.iareporter.com/articles/investigation-as-new-cases-emerge-under-islamic-investment-treaty-initial-viability-of-claims-seems-to-hinge-on-willingness-of-respondents-to-appoint-arbitrators/.
Joel Dahlquist & Luke Eric Peterson, Investigation: Four Previously-Confidential Claims under OIC Investment Agreement are Uncovered, as Controversy Continues over Treaty’s Use in Arbitration, Investment Arbitration Reporter, May 16, 2019, https://www.iareporter.com/articles/investigation-4-previously-confidential-claims-under-oic-investment-agreement-are-uncovered-as-controversy-continues-over-treatys-use-in-arbitration/.
Lisa Bohmer & Vladislav Djanic, Arbitrators Comings and Goings: One Newly-Revealed Tribunal in under-the-Radar OIC Treaty Case, and Two Tribunal Reconstitutions, July 5, 2020, https://www.iareporter.com/articles/arbitrators-comings-and-goings-one-newly-revealed-tribunal-and-two-tribunal-reconstitutions/.
Lisa Bohmer, Breaking: Majority in Itisaluna v. Iraq Declines Jurisdiction over OIC Claims; Dissenter Would Have Granted Access to ICSID Arbitration through MFN Clause, Investment Arbitration Reporter, April 5, 2020, https://www.iareporter.com/articles/breaking-majority-in-itisaluna-v-iraq-declines-jurisdiction-over-oic-claims-dissenter-would-have-granted-access-to-icsid-arbitration-through-mfn-clause/.
Luke Eric Peterson, After Organisation for Islamic Cooperation Fails to Nominate an Arbitrator to Sit in Investor-State Case, PCA Breaks Stalemate by Designating an Appointing Authority, Investment Arbitration Reporter, March 31, 2017, https://www.iareporter.com/articles/after-organisation-for-islamic-cooperation-fails-to-nominate-an-arbitrator-to-sit-in-investor-state-case-pca-breaks-stalemate-by-designating-an-appointing-authority/.
––––, An Update on Investor Arbitration Claims under the Organization for Islamic Cooperation Investment Treaty, Investment Arbitration Reporter, August 15, 2018, https://www.iareporter.com/articles/an-update-on-investor-arbitration-claims-under-the-organization-for-islamic-cooperation-investment-treaty/.
––––, Indonesia Says 1981 Inter-Islamic Pact Does not Offer Consent to Investor-State Arbitration, but Tribunal Uses ‘Contemporary’ Interpretation and Finds Consent, Investment Arbitration Reporter, September 19, 2012, https://www.iareporter.com/articles/analysis-indonesia-says-1981-inter-islamic-pact-does-not-offer-consent-to-investor-state-arbitration-but-tribunal-uses-contemporary-interpretation-and-finds-consent/.
––––, Libya Claims Round-up: New Developments under OIC Treaty; Greenwood to Chair a Newly-Filed ICC BIT Case; Two Hearings Loom in Longer-running Arbitrations, Investment Arbitration Reporter, May 7, 2018, https://www.iareporter.com/articles/libya-claims-round-up-new-developments-under-oic-treaty-greenwood-to-chair-a-newly-filed-icc-bit-case-two-hearings-loom-in-longer-running-arbitrations/.
––––, Libya Investment Treaty Claims: Another Claim Surfaces and Another Tribunal is Finalized, Investment Arbitration Reporter, June 29, 2017, https://www.iareporter.com/articles/27731/.
––––, Libya Round-up: New Tribunals, a Discontinuation, and further Details about a Number of Investment Arbitrations against the State, Investment Arbitration Reporter, August 11, 2020, https://www.iareporter.com/articles/libya-round-up-new-tribunals-a-discontinuation-and-further-details-about-a-number-of-investment-arbitrations-against-the-state/.
––––, Libya Wins One and Loses One, as New Bilateral Investment Treaty Awards are Rendered, Investment Arbitration Reporter, February 18, 2020, https://www.iareporter.com/articles/libya-wins-one-and-loses-one-as-new-bilateral-investment-treaty-awards-are-rendered/.
––––, Permanent Court of Arbitration Once Again Steps in to Designate an Appointing Authority after Investor Gets Silent Treatment from Organisation of Islamic Cooperation, Investment Arbitration Reporter, November 6, 2019, https://www.iareporter.com/articles/permanent-court-of-arbitration-once-again-steps-in-to-designate-an-appointing-authority-after-investor-gets-silent-treatment-from-organisation-of-islamic-cooperation/.
––––, Saudi Arabia Faces Another Investor Arbitration Claim under Organisation for Islamic Cooperation Investment Treaty – Brought by Qatar Pharma Firm Affected by Blockade, Investment Arbitration Reporter, March 19, 2019. https://www.iareporter.com/articles/saudi-arabia-faces-another-investor-arbitration-claim-under-organisation-for-islamic-cooperation-investment-treaty/.
Mārtiņš Paparinskis, MFN Clauses and International Dispute Settlement Moving Beyond Maffezini and Plama?, 26 ICSID Review: Foreign Investment Law Journal 14 (2011).
Peter Rosher, Accords multilatéraux de protection de l'investissement de la région du moyen-orient et de l'Afrique du nord: deux exemples d'instruments méconnus mais prometteurs, 3 Cahiers de l’Arbitrage 437 (2017).
Scott Vesel, Clearing a Path through a Tangled Jurisprudence: Most-Favored-Nation Clauses and Dispute Settlement Provisions in Bilateral Investment Treaties, 32 The Yale Journal of International Law 125 (2007).
Sebastian Perry, PCA Ends Standoff over Islamic Treaty Claim, Global Arbitration Review, April 3, 2017, https://globalarbitrationreview.com/pca-ends-standoff-over-islamic-treaty-claim/.
Simon Batifort & J. Benton Heath, The New Debate on the Interpretation of MFN Clauses in Investment Treaties: Putting the Brakes on Multilateralization, 111 American Journal of International Law 873 (2017).
Stephan W Schill, MFN Clauses as Bilateral Commitments to Multilateralism: A Reply to Simon Batifort and J. Benton Heath, 111 American Journal of International Law 914 (2017).
Stephen Fietta, Most Favoured Nation Treatment and Dispute Resolution Under Bilateral Investment Treaties: A Turning Point, 8 International Arbitration Law Review 131 (2005).
Tom Jones, Qatar Airways Launches Treaty Claims over Blockade, Global Arbitration Review, July 22, 2020, https://globalarbitrationreview.com/qatar-airways-launches-treaty-claims-over-blockade.
––––, Saudi Arabia Faces Another Claim over Qatar Blockade, Global Arbitration Review, March 29, 2019, https://globalarbitrationreview.com/saudi-arabia-faces-another-claim-over-qatar-blockade/.
Vladislav Djanic, Qatar Airways Lodges Treaty-Based Arbitration Cases against Four Middle Eastern States, Investment Arbitration Reporter, July 22, 2020, https://www.iareporter.com/articles/qatar-airways-lodges-treaty-based-arbitration-cases-against-four-middle-eastern-states/.
Zachary Douglas, The MFN Clause in Investment Arbitration: Treaty Interpretation Off the Rails, 2, Journal of International Dispute Settlement 97 (2011).
Cases:
Ali Alyafei v. Hashemite Kingdom Jordan (II) (2015).
beIN Corporation v. Kingdom of Saudi Arabia, UNCITRAL, Notice of Arbitration, 1 October 2018.
Cour d’appel de Paris, Recours en annulation de sentence arbitrale, 23 March 2021.
Daimler Financial Services AG v Argentine Republic, ICSID Case No. ARB/05/1, Award (22 August 2012).
D.S. Construction FZCO v. Libya, PCA Case No. 2017-21 (2016).
Emilio Agustin Maffezini v. Kingdom of Spain, Decision of the Tribunal on Objections to Jurisdiction, ICSID Case No. ARB 97/7 (25 January 2000).
Garanti Koza LLP v. Turkmenistan, ICSID Case No. ARB/11/20, Decision on the Objection to Jurisdiction (3 July 2013).
Hesham Al Mehdar v. Arab Republic of Egypt (2018).
Hesham al-Warraq v. The Republic of Indonesia, UNCITRAL, Award on Respondent’s Preliminary Objections to Jurisdiction and Admissibility of the Claims, 21 June 2012.
Hilal Hussain Al-Tuwairqi and Al-Tuwairqi Holding and others v. Islamic Republic of Pakistan (2018).
Itisaluna Iraq LLC and others v. Republic of Iraq, ICSID Case No. ARB/17/10, Award (3 April 2020).
Kiliç v. Turkmenistan, ICSID Case No. ARB/10/1, Award (2 July 2013).
Kontinental Conseil Ingénierie (KCI) v. Gabonese Republic, PCA Case No. 2015-25 (2015).
L.E.S.I v. Algeria, ICSID Case No. ARB/03/08, Award (10 January 2005).
Loewen Group, Inc. and Raymond L. Loewen v. United States of America, ICSID Case No. ARB(AF)/98/3, Award, (26 June 2003).
Members of the Gargour Family v. Libya (2018).
National Grid Plc v. Argentine Republic, UNCITRAL, Decision on Jurisdiction, dated 20 June 2006.
Navodaya Trading DMCC v. Gabonese Republic (2018).
Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11, Decision on Jurisdiction (9 September 2008).
Omar Bin Sulaiman Abdul Aziz Al Rajhi v. Sultanate of Oman, PCA Case No. 2017-32 (2017).
Philip Morris Brands Sàrl, Philip Morris Products S.A. and Abal Hermanos S.A. v. Oriental Republic of Uruguay, ICSID Case No. ARB/10/7, Decision on Jurisdiction (2 July 2013).
Qatar Airways v. Kingdom of Saudi Arabia (2020).
Qatar Airways v. United Arab Emirates (2020).
Qatar Pharma and Ahmed Bin Mohamed Al Haie Al Sulaiti v. Kingdom of Saudi Arabia (2019).
Tekfen and TML v. Libya (2015).
Trasta Energy Limited v. Libya (2019).
Unknown Claimants v. Arab Republic of Egypt (2014).
International Treaties and Other Documents:
Agreement on Promotion and Protection and Guarantee of Investments among Member States of the Organization of the Islamic Conference. Reproduced in UNCTAD, International Investment Instruments: A Compendium Volume II (UN, 1981) 241.
International Law Commission, Final Report of the Study Group on the Most-Favored-Nation clause, UN Doc. A/70/10, Annex (2015).
Vienna Convention on the Law of Treaties, 1969, 1155 U.N.T.S. 331.
How to Cite
Konstantinidis, I. . (2022). Deciphering the OIC Investment Agreement in Light of the Itisaluna v. Republic of Iraq Award. International Review of Law, 11(1). https://doi.org/10.29117/irl.2022.0212
Section
Articles in English