Home ShipmanagementLegal HFW: Iran sanctions – The English Court steers a course

HFW: Iran sanctions – The English Court steers a course

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Daniel Martin, partner HFW

In our previous briefing, we looked at the challenges of complying with EU and US sanctions from 5 November 2018, when further US sanctions are re-imposed, and the need to steer a course between the divergent approaches which are being taken by the EU and the US.

The Commercial Court’s expedited judgment in Mamancochet Mining Limited v Aegis Managing Agency Limited and others which was handed down on 12 October 2018 provides some much needed guidance for businesses on how the UK Courts will deal with some of the issues caused by President Trump’s 8 May 2018 announcement that the US was withdrawing from the Joint Comprehensive Plan of Action in respect of Iran (JCPOA), in particular during the wind down period which runs until 23:59 on 4 November 2018.

Michael Ritter

 

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