Work Area: Sanctions
Existence of sanctions justifies anti-arbitration injunctions in Russia
The Russian Supreme Court has ruled for the first time that sanctioned Russian parties need not prove that sanctions have actually impeded their access to justice to obtain an injunction restraining a foreign arbitration. Timur Aitkulov and Galina Valentirova of Aitkulov & Partners in Moscow report.
13 January 2022
US sanctions authority clears Korea to pay Iranian award
South Korea says the US Office of Foreign Assets Control has authorised it to pay an investment treaty award to an Iranian family despite US sanctions against Iran.
12 January 2022
A new approach to the public policy defence in Ukraine
Olexander Droug, Tatyana Slipachuk and Alina Danyleiko of Sayenko Kharenko in Kyiv say a recent pair of judgments show a volte-face by the Ukrainian Supreme Court in its approach to public policy as a defence to enforcement of arbitral awards.
06 January 2022
ECJ bars attachment of sanctioned assets
A Kuwaiti company’s efforts to collect on a billion-dollar award against Libya may have been dealt a blow after the European Court of Justice ruled that EU law precludes the attachment of assets that have been frozen as a result of international sanctions.
11 November 2021
Iran’s central bank threatens treaty claim against South Korea
The Central Bank of Iran has threatened South Korea with a US$7 billion investment treaty claim over the freezing of Iranian assets in its banks.
04 November 2021
Yemen award upheld despite terrorism claims
A French court has upheld a US$30 million ICC award in favour of Yemen despite arguments the proceeds could be used to fund terrorist groups including Al-Qaeda and thereby violate human rights and international sanctions.
07 October 2021
Sanctions and anti-arbitration injunctions in Russia
Lawyers from Aitkulov & Partners report on a Russian Supreme Court case that may make it easier for Russian parties facing sanctions to obtain injunctions restraining arbitrations abroad.
05 October 2021
Crystallex warns of NAFTA claim against US
The US government has once again refused to allow Crystallex to sell off Venezuelan state-owned assets to satisfy an ICSID award, despite the Canadian mining company’s warning that it may pursue a NAFTA claim against the United States as a result.
24 September 2021
Mega-award against Chevron blocked again in US
The heirs of a Saudi official have once again failed to enforce an US$18 billion award against Chevron in the United States, as their counsel face the prospect of court sanctions for allegedly relying on a “fabricated” news article.
17 August 2021
Peruvian contractor defends lawyers accused of “switching sides”
A Peruvian contractor has hit back at allegations that its victory in an ICC dispute over a refinery project was tainted by two lawyers’ move to a different law firm, calling it “nothing more than an eleventh hour tantrum”.
03 August 2021