The modern view is that the concept of absolute sovereignty of the state is only a fiction and hence International Law is no longer a negation of sovereignty. The Austinian School of Thought objects to the use of the world law for international relations.
According to them, law is the command of a determinate human superior and it is obeyed because of the fear of the coercive power of the states. Both these elements are conspicuous by their absence in International law. The Historical School of Thought contends that International law is as good a law as municipal law. The concept of absolute sovereignty of the state is now out of place.
The International law and the municipal law emanate from customs, religions, judicial precedents etc. Both are obeyed for fear of public opinion. There are prize courts in every country for the adjudication of prize cases. Some states like England and U.SA. have recognized International Law as a part of their Municipal Law.
In fact the principles of International Law are fundamentally the same as those of national Law. Saner opinion is that International Law is halfway between morality and law.