EU Clarifies Access to Arbitration in Seventh Sanctions Package

ICC Statement on Russia-Ukraine Conflict

24 February 2022

Impact of Sanctions on Arbitration

Following the Russian incursion into Ukraine, the International Chamber of Commerce (ICC) has issued a statement on the implications for arbitration.

Sanctions and Countermeasures

The tightening of sanctions against Russia and Belarus has raised concerns about the availability of arbitration for resolving disputes.

EU Clarification

In its Seventh Package of Sanctions, the EU has included provisions clarifying access to arbitration.

Arbitration Considerations

The London Court of International Arbitration (LCIA) has joined with other arbitration centers in issuing a joint statement on the EU's clarification.

Sanctions Compliance

Businesses and individuals must take into account the sanctions and countermeasures when considering arbitration.