Journal Article

Applicable Law in Disputes Concerning Economic Sanctions: A Procedural Framework for Arbitral Tribunals

Karl-Heinz Böckstiegel

in Arbitration International

Published on behalf of The London Court of International Arbitration

Volume 30, issue 4, pages 605-614
Published in print December 2014 | ISSN: 0957-0411
Published online January 2015 | e-ISSN: 1875-8398 | DOI: https://dx.doi.org/10.1093/arbitration/30.4.605
Applicable Law in Disputes Concerning Economic Sanctions: A Procedural Framework for Arbitral Tribunals

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As the recent economic sanctions decided by the United States and the European Union against, Russia may soon be expected to lead to disputes either by commercial arbitrations or sometimes also by investment arbitrations, this paper shortly outlines the procedural framework and major considerations for international arbitral tribunals, if economic sanctions are somehow relevant aspects of the dispute they have to decide. The determination of the law to be applied by arbitral tribunals with regard to economic sanctions is subject to a number of considerations and scenarios with some complexity. Not all effects and results can easily be determined by the parties and their lawyers in advance in a contract or before a given dispute at hand. Tribunals have discretion in a number of scenarios. As a rule of thumb, that discretion is smaller if the economic sanctions are provided in the procedural or substantive law directly found to be applicable to the dispute at hand. And the discretion is wider with regard to economic sanctions by third states where Article 7 of the Rome Convention has to be applied.

Journal Article.  3503 words. 

Subjects: Arbitration ; Company and Commercial Law ; Competition Law ; Employment and Labour Law ; Settlement of Disputes

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