Work Area: Sanctions

South Korea has confirmed the transfer of billions of dollars of Iranian funds that were frozen four years ago because of US sanctions – and gave rise to the threat of an investment treaty claim by Iran’s Central Bank.

19 September 2023

An Irish aviation leasing company has received payment of US$645 million to settle an LCIA dispute with Russia’s largest airline over planes that were stranded in the country following last year’s invasion of Ukraine.

12 September 2023

UPDATED WITH COUNSEL: A Luxembourg company linked to Russian-Israeli billionaire Mikhail Fridman says it has notified Ukraine of a potential investment treaty claim over the “illegal expropriation” of one of the country’s biggest banks – while accusing the state of aggravating the dispute by bringing criminal charges against the businessman.

08 September 2023

The Commercial Court in London has granted an injunction to restrain litigation in Russia – enforcing an ICC arbitration clause that provides for a Paris seat.

07 September 2023

CORRECTION: One of Russia’s longest-running arbitral institutions has said it is not affected by recent US sanctions imposed on a separate entity that shares the same name as its parent organisation.

24 August 2023

A Russian gas venture has frozen more than US$50 million in assets held by a Baker Hughes subsidiary as it prepares to file an ICC claim over a terminated contract.

18 August 2023

Russia’s largest cargo airline has threatened to file an investment treaty claim against Canada over the seizure of one of its aircraft at Toronto airport.

15 August 2023

The Paris Court of Appeal has allowed a Dutch supplier of night vision goggles to seize funds belonging to Iraq’s second-largest bank to satisfy a pair of ICC awards issued against Iraqi ministries two decades ago.

07 August 2023

UPDATED: A Moscow Court has reportedly rejected a request by a sanctioned Russian state-owned entity to move litigation over Eurobond debt to the London Court of International Arbitration.

03 August 2023

A group of cinema investors have withdrawn a request for court sanctions against a law firm they accused of helping a billionaire client to destroy evidence and evade enforcement of a US$450 million CIETAC award.

26 July 2023