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

On 1^st 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 12^th September.

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

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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 View all posts by raytodd2017