In March 2018 the Court of Justice of the European Union (CJEU) ruled that the arbitration clauses for the settlement of disputes between investors and states, which had been established in bilateral investment treaties signed between member countries of the Union, were contrary to European law. This paper intends to present some of the repercussions that this decision could have on international investment law.En marzo de 2018, el Tribunal de Justicia de la Unión Europea (TJUE) resolvió que las cláusulas arbitrales para la solución de controversias entre inversionistas y Estados, establecidas en acuerdos bilaterales de inversión suscritos entre países miembros de la Unión, eran contrarias al derecho comunitario. Este trabajo pretende presentar algunas de las repercusiones que esta decisión podría tener en el derecho internacional de las inversiones.