Permanent sovereignty over natural resources of state under international law: An analysis

Abstract

State have every right over its natural resources, they have the right to exploit and preserve their natural resources. Under International Law states have permanent sovereignty over their natural resources. The natural resources located within the territorial jurisdiction of sovereign state belong to the community i.e. the people themselves. Never the less the principle has received the renewed emphasis offer the initiation of the ages of decolonization. The principle of the permanent sovereignty over natural resources has been develop and reiterated in number of pertinent initiatives taken by the international organizations. There are number of provisions relating to permanent sovereignty over natural resources are embodied in the resolutions of the United Nations General Assembly while other are contained in international contentious or treaties. This paper will be analyzing the concept of sovereignty of the state over the natural resources. The right of state over its natural resources has been an inherent right of every nation. Paper will be analyzing the various initiatives taken by the international organization for the protection of this concept of sovereignty of states over natural resources. This entitlement of the rights to the state will ensure the Human Rights to its nationals.