English Court confirms certain sanctions clauses can manage U.S. secondary sanctions risk
A recent decision by an English court confirms the position in English law that parties are able to manage sanctions risk contractually, including risks arising from U.S. secondary sanctions.
The decision also reduces 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 U.S. secondary sanctions.
The decision is discussed by Reed Smith lawfirm in this report
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