The European Union is considering a proposal to quit an international energy treaty that has become mired in climate change concerns, but leave an option for individual countries to stay in an updated version of the accord, a document showed.
The 1998 Energy Charter Treaty lets energy companies sue governments over policies that damage their investments, a system initially designed to support investments in the sector.
However, a handful of countries, including Cyprus, Hungary and Slovakia, have signalled they may prefer to stay in an updated version of the accord - leaving Brussels searching for a way forward that would appease all of its members. This would provide EU countries and lawmakers in favour of leaving with "reassurances that there will be an early and swift withdrawal of the EU," said the proposal, seen by Reuters.
A decision by the treaty's roughly 50 signatories to approve a the upgrade has been on hold while EU countries debate their next move.
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