Supreme Court Senior Associate Justice Antonio Carpio has refuted the claim made by the Duterte administration that Reed Bank cannot be used as collateral in case the Philippines defaults on its loan for the China-funded Chico River project. In a recent statement, Carpio emphasized that the 2016 Arbitral Tribunal ruling clearly states that China’s nine-dash line claims are invalid and have no basis under international law.
Carpio’s assertion underscores the significance of the tribunal’s decision in affirming the Philippines’ exclusive economic zone (EEZ) rights over Reed Bank. By drawing attention to this crucial aspect, Carpio highlights the imperative for the Philippine government to assert its sovereignty and protect national interests.