The European Commission is seeking permission from the European Council to defend Spain from a €106 million lawsuit brought in a US court under the Energy Charter Treaty (ECT) which could put Madrid in breach of EU state aid rules, according to a document seen by Euronews.
The ECT is a post-Cold War international agreement designed to protect investments in unstable, formerly communist states. It has since become a source of controversy because it allows energy companies to sue countries for measures that could harm their expected profits.
