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LIGNET: Philippines Sues China Over High-Stakes Sovereignty Claims

The Philippine navy ship Sierra Madre has been beached on Scarborough Shoal since 1999 to assert Manila's sovereignty claim over the remote South China Sea reef. (JAY DIRECTO/AFP/Getty Images)

Monday, 07 April 2014 02:23 PM EDT

The Philippines has escalated a regional dispute with Beijing over the South China Sea, home to huge potential oil and gas reserves, by seeking U.N. arbitration over a deliberately beached ship that Manila uses to fend off Chinese sovereignty claims.

The outcome could affect at least six nations and one-third of global commerce which passes through the waters each year.

Click HERE to read an exclusive analysis by LIGNET's top intelligence experts.

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