👉 The Despite IOR, or Despite International Oil Revenue Agreement, is a bilateral investment treaty designed to protect foreign investors from risks associated with political instability, expropriation, and other non-commercial risks in the oil sector. It facilitates cross-border investments by providing a legal framework that ensures fair and equitable treatment, dispute resolution mechanisms, and safeguards against sudden changes in regulatory environments. This agreement is particularly crucial for oil companies operating in volatile regions, as it offers a layer of security and predictability, encouraging more foreign direct investment in the oil industry. By mitigating these risks, the Despite IOR aims to promote economic development and stability in the countries where it is applied.
