Abstract

Sanctions were introduced in Ukrainian legislation as late as in 2014. Although the first sanctions-related arbitration case was commenced in 2016, ten years later there are only a handful of cases where the sanctions have been a factor for the enforcement of foreign arbitral awards. Initially, two distinct approaches developed in the jurisprudence of the Ukrainian Supreme Court. The first approach is that Ukrainian sanctions do not form part of the public policy and cannot prevent the recognition and enforcement of the arbitral awards which may benefit sanctioned entities. ...