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Equatorial Guinea prevails in dispute with neighboring Gabon over oil-rich islands

A view of the Peace Palace, which houses the International Court of Justice, or World Court, in The Hague, Netherlands, on Jan. 26, 2024. (AP Photo/Patrick Post, File)

Key Points

  • The International Court of Justice has ruled that Equatorial Guinea, not Gabon, holds sovereignty over the three oil-rich islands.
  • The court deemed a 1900 treaty between Spain and France as the sole legally binding agreement, dismissing the 1974 Bata Convention for lacking treaty force.
  • Gabon seized the largest island, Mbanie, in a 1972 military skirmish, and the dispute was reignited after oil discoveries in the surrounding waters.
  • Both countries, heavily dependent on oil amid declining production elsewhere, turned to the ICJ after diplomatic talks repeatedly failed.
  • MarketBeat previews top five stocks to own in June.

THE HAGUE, Netherlands (AP) — Judges at the top U.N. court sided with the West African country of Equatorial Guinea in a fight with neighboring Gabon over which treaty settled the ownership of three largely uninhabited oil-rich islands.

The decision effectively hands the islands to Equatorial Guinea.

The countries brought their dispute to The International Court of Justice in 2021, asking judges to determine what legal agreement settles the possession of the oil-rich islands.

The 15-judge panel found a 1900 treaty between Spain and France, which divided up colonial holdings, to be the ultimate authority.

A later agreement, known as the 1974 Bata Convention, which gives the islands to Gabon, was dismissed as “not a treaty having the force of law,” Judge Julia Sebutinde said.

The document was contested by Equatorial Guinea and Gabon did not produce an original copy for the court.

Equatorial Guinea had control of the territory until 1972, when Gabon took over the largest island, Mbanie, in a military skirmish. When oil was discovered in coastal waters, the dispute reignited.

The economies of both countries are highly dependent on oil, but production from existing areas has been in decline in recent years.

The countries asked the court to settle the ownership question after repeatedly failing in efforts to find a diplomatic solution.

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