UK quits treaty that lets oil firms sue government

The United Kingdom has announced its decision to withdraw from the Energy Charter Treaty, a treaty that allows oil companies to sue governments for taking actions that harm their investments in the energy sector.

The decision to quit the treaty comes as part of the UK government’s efforts to protect its sovereignty and ensure more control over the country’s energy policies.

The Energy Charter Treaty, which was signed in 1994, has faced criticism for giving too much power to multinational oil companies and undermining governments’ ability to regulate and transition to cleaner energy sources.

The UK’s decision to withdraw from the treaty has been welcomed by environmental groups and advocates for energy sovereignty, who argue that it is a step in the right direction towards a more sustainable and accountable energy sector.