Part V The International Law of Foreign Investment, XXXII Customary International Law
- Expropriation — Customary international law
Rules relating to foreign international investments under customary law are rather rudimentary. Modern international investment law is clearly dominated by treaties, although treaty clauses are often meant to reflect or clarify customary standards. Under customary international law, States are free to decide whether or not they permit foreign investments within their territory. The freedom to exclude any form of foreign investment also implies that States may set their own conditions for the admission of foreign investments.1 Once admitted and realized, foreign...