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Treaty of Lisbon (No. 2)

More than that, there is the energy charter treaty which the Russians signed up to in 1994. They accepted the legal obligations of that treaty prior to ratification. They have not ratified, but they are obliged to respect it. This regulates reciprocity of investment. The key argument that we have at present with Gazprom is that we allow it to invest in the European Union, but President Putin has steadfastly tried to renationalise the assets within Russia so that private western companies are effectively losing assets or not getting fair value for those assets.