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United Nations General Assembly Resolution 1803 (XVII)

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UN General Assembly
Resolution 1803
Date14 December 1962
CodeA/RES/1803 (XVII) ([ Document])
Voting summary
  • 87 voted for
  • 2 voted against
  • 12 abstained

United Nations General Assembly Resolution 1803 established the principle of permanent sovereignty over natural resources. The 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.[1]

Impact

The resolution has been invoked in international arbitrations, national court rulings, government decrees and diplomatic protests.[2] 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

  1. ^ Heejin Kim (2016). Regime Accommodation in International Law: Human Rights in International Economic Law and Policy. BRILL. p. 158. ISBN 9004325514.
  2. ^ "Sovereignty over natural resources in the OPT – SecGen report". United Nations. 1983. Retrieved 19 June 2022.

External links

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