Work Area: Sanctions

Gazprom sheds light on dispute with Finnish gas buyer

Gazprom has provided more details about an award issued in an arbitration with a Finnish state-owned gas importer, saying the tribunal ruled the Russian company is owed over €300 million and was entitled to cut off supplies owing to force majeure.

17 November 2022

Deripaska fails to revive treaty claim against Montenegro

A Swedish court has denied a bid by sanctioned Russian oligarch Oleg Deripaska to revive a €600 million claim against Montenegro – rejecting arguments the state had succeeded to a bilateral investment treaty signed by the former Yugoslavia.

11 November 2022

Will Exxon bring a claim against Russia?

ExxonMobil says it is reserving its right to pursue arbitration against Russia over the “expropriation” of its interest in a multibillion-dollar oil and gas project.

02 November 2022

UK eases legal fee rules for sanctioned Russians

UK financial sanctions agency OFSI has simplified the process for lawyers accepting payments from clients on Russian and Belarusian sanctions lists.

01 November 2022

White & Case withdraws as counsel to Belarus in ICSID case

Months after White & Case announced it would cease acting for Russian and Belarusian state clients in response to the invasion of Ukraine, the law firm has withdrawn as counsel to Belarus in one ICSID case but remains on the record in another.

24 October 2022

LCIA gets exemption from Russia and Belarus sanctions

The London Court of International Arbitration has been granted a general licence allowing it to process payments from parties subject to the UK’s recent financial sanctions against Russia and Belarus to cover their arbitration costs.

17 October 2022

Sleepless nights over sanctions

A conference organised by the Swiss Arbitration Association (ASA) considered economic sanctions and the many ways they can affect international arbitration and cause “sleepless nights” for practitioners. Chloé Terrapon Chassot of Walder Wyss reports.

12 October 2022

Ukraine pushes for war claims commission

Ukraine is petitioning the United Nations to create a commission to resolve claims against Russia for financial damages arising out of the war – amid speculation that some US$300 billion in frozen Russian central bank assets could be targeted for enforcement.

10 October 2022

Gazprom tells Naftogaz to drop ICC claim or risk sanctions

Gazprom has warned Ukraine’s Naftogaz that it must drop an ICC claim over gas transportation fees or risk sanctions that could result in the closure of a critical Russian pipeline supplying Europe.

28 September 2022

Valuation in a time of uncertainty

A conference in Prague considered how arbitrators and quantum experts should deal with the impact of sanctions, counter-sanctions and high inflation. Tatiana Rukhliada, Martin Kozak and Katerina Skryjova of PwC in Prague report.

23 September 2022

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