How Can U.S. Secondary Sanctions as Foreign Overriding Mandatory Rules Intervene in Arbitration Disputes Arising from the Ukraine-Russia Conflict?
Designed by the United States (“U.S.”) government to enhance the success of its primary sanctions programs, secondary sanctions are intended to prevent, on a global basis, third parties from trading with countries that are subject to sanctions. In a dispute involving the transfer of U.S. dollars between two non-U.S. persons located outside U.S. jurisdiction, these U.S. secondary…