Topic: Sanctions

Venezuela’s state-owned oil group PDVSA has agreed to pay US$48 million to ConocoPhillips to end the US energy company’s bid to enforce an ICC award over the alleged expropriation of an offshore oil project.

08 December 2020

The Singapore Court of Appeal has confirmed that a prima facie standard of review applies when considering whether to stay a winding-up application on the basis of an arbitration clause – in a dispute triggered by US sanctions against Russian oligarch Oleg Deripaska.

16 April 2020

The Court of Appeal in London has confirmed that Iran’s Ministry of Defence is not entitled to interest that has accrued on a £128 million ICC award against a UK state-owned entity following the imposition of EU sanctions – saying the measures were intended to have “confiscatory consequences.”

13 February 2020

A Russian engineering company hit with US sanctions has reportedly brought a SIAC claim against state-owned PetroVietnam over a stalled project to build a US$1.3 billion power plant.

04 November 2019

An English court has ruled that a UK government-owned supplier of military vehicles is not liable to pay interest on a £128 million award in favour of Iran’s Ministry of Defence that has accrued while it has been subject to EU sanctions.

25 July 2019

The International Court of Justice has issued provisional measures requiring the United States to ease some of the sanctions it imposed on Iran following President Donald Trump’s decision to withdraw from the deal over the Iranian nuclear programme.

03 October 2018

Consider the following, not-impossible scenario. An arbitration in Switzerland, with UK and Iranian parties. The arbitrators are from France, Belgium and India. Do any sanctions apply? Would your answer change if one of the arbitrators were from the US? Such questions were discussed at last year’s GAR Live London, guided by Hans van Houtte, then president of the Iran-United States Claims Tribunal.

23 April 2018