Work Area: Sanctions
EU confirms arbitration carve-out in sanctions regime
Arbitral institutions have welcomed a clarification by the European Union that transactions with Russian state-owned entities are exempt from its sanctions regime where they are strictly necessary to ensure access to arbitral proceedings.
26 July 2022
Russian state entity plans claim over Finnish nuclear project
Russian state entity Rosatom is preparing to launch an arbitration against a Finnish company that cited the war in Ukraine when it terminated a contract for work on a €7 billion nuclear power plant project.
22 July 2022
Venezuelan state entity dodges ICSID enforcement in Singapore
Singapore’s High Court has refused to allow one of Venezuela’s ICSID creditors to enforce a US$500 million-plus award against the assets of a state-owned entity facing US sanctions.
20 July 2022
Iranian state entity can’t appeal US$2.4 billion award
A London court has refused to allow Iran’s national oil company to appeal a US$2.4 billion award on a point of law while rejecting arguments the state entity had waived its right to bring such an appeal.
12 July 2022
Amirfar on ordering a disordered world
Debevoise & Plimpton partner Catherine Amirfar used a keynote address at GAR Live Vienna to defend international law’s role in "ordering a disordered world” – arguing that while it is no panacea as the war in Ukraine illustrates, we shouldn’t lose sight of its importance in maintaining peace and security.
01 June 2022
Iranian gas award surfaces in US court
The UAE’s Crescent Petroleum has asked a US court to enforce a US$2.4 billion award against Iran’s national oil company, shedding light on a fraught 13-year arbitration that saw three arbitrators resign and a tribunal chair disqualified.
17 May 2022
Lord Mance addresses GAR Live London
In a keynote speech at GAR Live London, Lord Mance gave an overview of problems affecting international arbitration in London, including how to deal with arbitrator conflicts of interest and confidentiality following the UK Supreme Court decision in Halliburton v Chubb; and "the outside world... making itself felt" through state-imposed sanctions.
17 May 2022
Russian state banks warn of claims against Ukraine
Two Russian state-owned banks have said they will pursue international arbitration against Ukraine after its parliament approved measures allowing for the seizure of their assets.
12 May 2022
DRC reaches billion-dollar settlement with Gertler companies
The Democratic Republic of the Congo has reportedly reached a settlement worth US$2 billion with sanctioned Israeli billionaire Dan Gertler and two of his companies that will see the state withdraw an ICC claim over two oil blocks.
03 May 2022
Will US face treaty claims over oligarch measures?
US President Joe Biden’s proposals to make it easier to sell off assets of Russian oligarchs in response to the war in Ukraine could lead to investment arbitrations against the United States, but practitioners are doubtful that such claims would succeed.
29 April 2022