1 NATURAL RESOURCE REVENUE SHARING SCHEMES (TRUST FUNDS) IN INTERNATIONAL LAW by Ilias Bantekas ∗ 1. Introduction 2. Natural resources and the state 2.1 Problem of subsoil resources ownership and use 2.2 Hydrocarbon operations and contractual options 3. Rationale for revenue sharing schemes and natural resources funds 3.1 Trust funds in developed countries 3.2 Trust funds in developing countries 3.3 Chad Oil Revenue Management Plan 4. Contribution of developed states to revenue sharing in the developing world 5. Multinational corporations and international trust funds 5.1 Role of multinational corporations in ethical revenue allocation 5.2 ‘Extractive Industries Transparency Initiative’ and the Equator Principles 6. Conclusion ∗ Associate Professor and Director, International Law Unit, Westminster Law School. Τhis article was written while the author was a Fellow at Harvard Law School’s Human Rights Program. The author would like to thank Mr James Cavallaro and Professor Henry Steiner of Harvard Law School for reading earlier drafts of this work.