BRUSSELS, May 30 (Xinhua) -- The Council of the European Union (EU) on Thursday green-lighted the EU and Euratom (European Atomic Energy Community) to withdraw from the Energy Charter Treaty.
The decision came after the European Parliament approved the withdrawal in April.
The Energy Charter Treaty (ECT), which entered into force in 1998, contains provisions on investment protection and trade in the energy sector. The treaty is no longer in line with the Paris Agreement and the EU ambitions regarding the energy transition, said the EU Council.
In July 2023, the European Commission submitted the withdrawal proposal, as it considered the treaty no longer compatible with the EU's climate goals under the European Green Deal and the Paris Agreement, predominantly due to concerns over continued fossil fuel investments.
The decisions on the withdrawal of the EU and Euratom, as well as the decisions on the modernisation of the treaty, enter into force on Thursday, said the EU Council.
