On 19-20 April 2024, the conference “Sanctions in International Arbitration”, organized by the European Branch of the Chartered Institute of Arbitrators (CIArb), took place in Copenhagen (Denmark).
The Conference featured six panel discussions on the peculiarities of consideration and arbitration of disputes with the participation of a sanctioned element, in particular, the application of sanctions in arbitration and their impact on arbitration institutions, arbitrators, performance of contractual obligations by the parties, the competences of the arbitral tribunal and the arbitration process, as well as on arbitral awards and the procedure for their review and enforcement.
Speakers, moderators and participants of the conference were representatives of the leading European arbitration institutions, law firms and independent arbitrators from Denmark, Poland, France, Italy, Greece, Switzerland, Latvia, Austria, the Czech Republic, Turkey, Belgium, Ukraine, the United Kingdom, Spain, Norway, Finland, Germany, Lithuania.
The ICAC was represented by the Vice President Volodymyr Nagnybida, who spoke at Session III – “Sanctions and Arbitrators” and delivered a report on “The Development of Arbitration in Ukraine in the Light of Security Challenges in Europe and Sanctions Policy”.
In his presentation, Volodymyr Nagnybida noted that the ICAC had unique experience in considering and resolving disputes in the context of war and sanctions policy. In 2022-2023, the ICAC was able not only to ensure fast and efficient consideration of cases (more than 90% of cases were resolved within 6 months from the date of formation of the Arbitral Tribunal), but also to expand the range of services by introducing mediation of international commercial disputes and implementing compliance procedures in resolving disputes with a sanctioned element. Volodymyr Nagnybida also highlighted the issues of arbitral proceedings via video conferencing, including with the participation of sanctioned entities, as well as the main provisions of the ICAC/UMAC Compliance Policy on the specifics of consideration of cases with a sanctioned element, approved by the decision of the Presidiums of the ICAC/UMAC on 06 March 2024. In addition, the speaker walked the conference participants through the steps taken by the ICAC to ensure effective consideration and resolution of disputes under martial law, including disputes involving sanctioned entities, in particular those sanctioned by the National Security and Defense Council of Ukraine.
Olena Perepelynska, the ICAC arbitrator, Partner and Head of International Arbitration at Integrites Law Firm, was one of the speakers of the panel discussion on the impact of sanctions on the arbitrability of disputes and arbitration procedure.
The ICAC’s input into the conference compliments the ICAC’s mission to promote international arbitration and deepen the international cooperation of the ICAC with arbitration institutions and the European arbitration community.
