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NEW YORK – The US Dow Jones Index has warned multinationals about the risks and serious fallout that can result from any investment in the occupied territories of Western Sahara.
In a document entitled ” The Renewed Conflict in Western Sahara: Risks and Implications”, the Dow Jones warned that the resurgence of the conflict in Western Sahara poses risks for companies operating in investment projects in the region, stressing that “legal and economic consequences of the dispute have amplified in recent years, especially following two verdicts of the Court of Justice of the European Union (EU), which stated that Western Sahara has a separate and distinct status from Morocco and that, therefore, Morocco does not have the legal personality to conclude trade agreements concerning the resources of Western Sahara.”
The Increased hostilities mean “increased uncertainties about doing business in Western Sahara. For example, on Nov. 13, 2020, 19 MEPs urged the EU to “warn European companies such as Siemens or Enel of the heavy legal and moral risks of doing business with an illegal occupier.”
These companies are involved currently in large-scale green-energy projects in the NSGT.
Referring to “the risk of sanctions” for companies due to “the moral uncertainty surrounding Trade Agreements in the region”, the Dow Jones recalls that “recently, 53 Norwegian NGOs called on their government to act on the matter at the UN Security Council”.