#sanctions
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Articles and case comments
- Marine Insurance Under Sanctions: Conflict-of-Law Issues, Sanctions Clauses, Arbitration and EnforcementSanctions have radically reshaped the landscape of marine insurance, creating new challenges for international arbitration: the nature of disputes and associated risk allocation is evolving, contractual clauses are being reconfigured, and claims to handling mechanisms are being recalibrated. This article examines conflict-of-laws issues “law, jurisdiction, and public policy” and contemporary dispute-resolution practice, including the enforceability of arbitration clauses and the recognition and enforcement of arbitral awards under the 1958 New York Convention. Emphasis is given to the London market. Through selected examples, the article demonstrates how sanctions and compliance requirements transform the allocation of risks between insureds and insurers, including P&I Clubs.
- Russian court awaiting England and Wales Court of Appeal’s judgment on anti-suit injunction (No. A56-73495/2023, UniCredit Bank GmbH v. RusChemAlliance LLC [2024] 1 Lloyd’s Rep 350)The High Court in London has been hearing several cases relating to the anti-suit injunction against RusChemAlliance LLC (Commerzbank AG v. RusChemAlliance LLC [2023] 2 Lloyd’s Rep 587; Deutshe Bank AG v. RusChemAlliance LLC [2023] 2 Lloyd’s Rep 600). To date, the latest in a series of cases has…
- Kuvera Resources Pte. Ltd. v. JPMorgan Chase Bank NA [2023] SGCA 28This was the claim made by Kuvera Resources Pte. Ltd. (the claimant) for executing the letters of credit in its favour by JPMorgan Chase Bank NA (the defendant). The claimant paid the Indonesian seller in advance to facilitate the sale and purchase of the coal agreement. The buyer of the coal was…
- Deutsche Bank AG v. RusChemAlliance LLC [2023] EWCA Civ 1144This was an application for an anti-suit injunction (ASI) by Deutsche Bank AG (the applicant) against RusChemAlliance LLC (the defendant). The defendant entered into an agreement with the German company (the contractor) for the engineering, procurement and construction of the LNG plant in Ust-Luga.…
- Information on Seaport Operations is Closed to Foreign ShareholdersRussian court refused to provide information to a shareholder owning 43% of the voting shares of the Russian joint-stock company Kaliningrad Commercial Seaport because the claimant was a UK resident. The UK authorities have adopted regulations allowing the imposition of restrictive measures on Russian entities operating in the transport sector and a wide range of others. The defendant carries on activities in the field of transport and is the operator of a marine terminal, therefore, the provision of documents and information to the plaintiff in accordance with the requirements of the Joint Stock Companies Act may lead to the introduction of new restrictive measures against the Port and/or other persons, of which the plaintiff learns from the documents of the defendant.
- Review of Sanctions in Connection to Russia’s Invasion of UkraineWhilst numerous information in the English language is available on sanctions imposed on Russia, foreign parties are less informed on countersanctions enacted by the Russian government. The latter have serious implications on parties dealing with Russia.