United Nations General Assembly Resolution 1803 established the principle of permanent sovereignty over natural resources.
| UN General Assembly Resolution 1803 | |
|---|---|
| Date | 14 December 1962 |
| Code | A/RES/1803 (XVII) |
Voting summary |
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Adopted on 14 December 1962 by the UN General Assembly,[1] resolution proclaims in particular that:
the right of people's and nations to permanent sovereignty over their wealth and resources must be exercised in the interest of their national development and the well-being of the people of the State concerned.
At the same time the resolution seeks to find a middle ground between countries' own decisions to regulate their assets and Western world's demand for stronger protection of foreign investments.[2]
Impact
editThe resolution has been invoked in international arbitrations, national court rulings, government decrees and diplomatic protests.[3] Among them is Decree No. 1 of the United Nations Council for Namibia adopted to provide the people of Namibia adequate protection of their natural resources.
References
edit- ^ Audiovisual Library of the United Nations. "Permanent Sovereignty over Natural Resources General Assembly resolution 1803 (XVII) New York, 14 December 1962".
- ^ Heejin Kim (2016). Regime Accommodation in International Law: Human Rights in International Economic Law and Policy. BRILL. p. 158. ISBN 9004325514.
- ^ "Sovereignty over natural resources in the OPT – SecGen report". United Nations. 1983. Retrieved 19 June 2022.