| Number: | 1803 |
| Organ: | GA |
| Date: | 14 December |
| Year: | 1962 |
| Code: | A/RES/1803 (XVII) |
| For: | 87 |
| Abstention: | 12 |
| Against: | 2 |
United Nations General Assembly Resolution 1803 established the principle of permanent sovereignty over natural resources.
Adopted on 14 December 1962 by the UN General Assembly,[1] resolution proclaims in particular that:
the right of people's and nations to permanent sovereignty over their wealth and resources must be exercised in the interest of their national development and the well-being of the people of the State concerned.At the same time the resolution seeks to find a middle ground between countries' own decisions to regulate their assets and Western world's demand for stronger protection of foreign investments.[2]
The resolution has been invoked in international arbitrations, national court rulings, government decrees and diplomatic protests.[3] Among them is Decree No. 1 of the United Nations Council for Namibia adopted to provide the people of Namibia adequate protection of their natural resources.