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Commodities in Focus Weekly - Issue 94
Court grants anti-suit injunction and upholds UK sanctions
Barclays Bank PLC v VEB.RF [2024] EWHC 1074 (Comm)
The English Commercial Court (the "Court") has granted an anti-suit injunction in favour of Barclays Bank Plc (the Claimant), preventing VEB (the Respondent) from pursuing a claim against Barclays in Russia in breach of an LCIA arbitration agreement. The Court refused to accept VEB's argument that the arbitration agreement had been frustrated as a result of sanctions imposed on VEB.
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