Enforcement of arbitral awards and international sanctions
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Enforcement of Arbitral Awards and International Sanctions. 3 rd DIS Baltic Arbitration Days Dr. Marc D. Veit. Riga, 26 June 2014. International t rade s anctions. Increasing number of countries affected Sanctions are becoming more restrictive and extensive.

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Enforcement of arbitral awards and international sanctions

Enforcement of Arbitral Awards and International Sanctions

3rd DIS Baltic Arbitration Days

Dr. Marc D. Veit

Riga, 26 June 2014


International t rade s anctions

Enforcement of Arbitral Awards and International Sanctions

International trade sanctions

  • Increasing number of countries affected

  • Sanctions are becoming more restrictive and extensive


Example trade sanctions against iran

Enforcement of Arbitral Awards and International Sanctions

Example: Trade sanctions against Iran

  • Oil/gas

  • Shipping equipment/steel

  • Financial transactions

  • Blacklist


Trade sanctions impact international arbitration at different stages

Enforcement of Arbitral Awards and International Trade Sanctions

Trade sanctions impact international arbitration at different stages

Institution?


Arbitrability

Sanctionsimpact international arbitrationat different stages

Arbitrability


Illegality impossibility

Trade sanctions impact international arbitration at different stages

Illegality Impossibility


Enforcement stage

Sanctionsimpact international arbitrationat different stages

Enforcement stage


Switzerland x ltd vs z 2 1 january 2014

Enforcement of Arbitral Awards and International Sanctions

Switzerland: X Ltd.Vs. Z (21January 2014)

X. Ltd (Switzerland)

Z (Iran)

Sale and Purchase Contract (1977) for delivery of crude oil to Israel


Enforcement of arbitral awards and international sanctions

Enforcement of Arbitral Awards and International Sanctions

USA: Ministry of Defense and Support for the Armed Force of the Islamic Republic of Iran vs. Cubic Defense Systems (9th Cir. 2011)

Cubic Defense Systems (USA)

Ministry of War (Iran)

Contract on sale and service of air combat maneuvering range (1977)


Sanctions as obstacles to enforcement

Enforcement of Arbitral Awards and International Sanctions

Sanctions as obstacles to enforcement

  • Complete prohibition of coal-export: COSID v. Steel Authority of India, AIR 1986 Del. 8 (22) (Delhi High Court, India)

  • Public policyexception?


Institutions

Sanctionsimpact international arbitrationat different stages

Institutions?


Lessons learnt

Enforcement of Arbitral Awards and International Sanctions

Lessons learnt

  • Disputes involving international sanctions are arbitrable

  • International trade sanctions generally do not belong to transnational publicpolicy

  • Awards will be enforced in many jurisdictions, despite international trade sanctions

  • Even if award is enforced, actual payment may require approval

  • Difficult situation for institutions


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