On 24 April, an article from Eversheds Sutherland said that, to address trade sanctions risk, an increasing number of financial institutions are incorporating sanctions clauses into their letters of credit.  This raises some major practical legal points for financial institutions to consider when they issue LC incorporating sanction clauses or receive LC with sanctions clauses.

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

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