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Writer's pictureHelen Swaffield

Top dollar? The impact of sanctions.

In the case of MUR Shipping BV v RTI Ltd [2022] EWHC 467 a proposed change from the currency of dollars was sufficient to trigger a force majeure outcome. The US sanctions regime applies to prevent payment. The arbitral award that a party was not obliged to accept non-contractual performance to circumvent the effect of the sanctions, was upheld on appeal.



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