The Cabinet of Ministers has suggested that the Verkhovna Rada terminate the intergovernmental agreement with Russia on the promotion and mutual protection of investments.
This follows from a statement by the Ministry of Economy, the Ukrainian News agency reports.
The intergovernmental agreement on the promotion and mutual protection of investments was signed in November 1998 and ratified by the Verkhovna Rada of Ukraine in December 1999.
"The agreement contains, in particular, clauses according to which the investments of investors of the contracting parties, valid in the territory of the other party, will not be expropriated, nationalized, or subjected to measures equal to the consequences of expropriation. In the case of nationalization and other investments in the public interest, payment of "quick, adequate, and effective compensation" to investors is envisioned. In case of investors' losses due to the war, the contracting party undertakes to provide them with a regime no less favorable than that provided to investors of any third country," the message reads.
It is noted that the Vienna Convention on the Law of International Treaties may be fundamentally changed in accordance with the basis for the treaty's conclusion.
As the Ukrainian News agency earlier reported, in January, the Cabinet of Ministers terminated the agreement with the Russian government on the ban on establishing trade and economic mission departments within embassies.
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