ENGLISH COURT CONFIRMS CERTAIN SANCTIONS CLAUSES CAN MANAGE US SECONDARY SANCTIONS RISK

On 1st October, Insurance Marine News reported that a decision has confirmed the position in English law that parties were able to manage sanctions risk contractually, including risks arising from US secondary sanctions.  It says that tt might also reduce uncertainties in relation to some existing sanctions clauses which excuse parties from non-performance of their obligations where performance may cause the party to become subject to US secondary sanctions.  Lamesa Investments Limited v. Cynergy Bank Limited was published on 12th September.

https://insurancemarinenews.com/insurance-marine-news/english-court-confirms-certain-sanctions-clauses-can-manage-us-secondary-sanctions-risk/

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s