Article
The Applicability Of Sanctions Imposed On Russia As Overriding Mandatory Provisions In Arbitration Proceedings
The annexation of Crimea in 2014 and the invasion of Ukraine in 2022 by Russia triggered the expansion of unilateral sanctions, particularly by the EU and the US. These sanctions, designed to exert political and economic pressure, had significant repercussions for global commerce, extending their effects beyond sanctioning and sanctioned states to third-country nationals. In a globalized economy, no actor remains immune from the disruptions caused by armed conflict and sanctions. This reality raises complex questions for arbitration, especially in third States such as Türkiye, regarding the enforceability of contracts, applicability of foreign mandatory rules, and potential enforcement challenges.
Kabine Law Office