Maritime Sanctions: Legal, Commercial, and Contractual Implications

This seminar brings together leading legal and maritime experts to examine the changing landscape of sanctions and their effect on shipping and trade. The speakers will discuss their views on how UK, EU, and US authorities enforce sanctions, the political and commercial impacts of maritime sanctions, and the private contractual implications for parties navigating these complex rules.

The programme will also examine key areas of complexity, including the interaction between sanctions’ objectives and mechanisms such as the G7 Price Cap, as well as its impact on standard form shipping contracts, including BIMCO’s Sanctions Clauses. Attendees will gain valuable insights into compliance, risk management, and the legal challenges faced in the global maritime sector.

16:00 Arrival and refreshments

16:30 Opening speech – Dr Melis Ozdel, UCL

16:40 The Panel:
Moderator: Melis Otmar, Executive Director, Head of Maritime Claims, Howden, London

• When you comply with sanctions, but get sanctioned anyway – how the sanctions’ authorities are casting the net wider.
  Siiri Duddington, Hill Dickinson LLP, Partner, Head of Sanctions, London
  Siiri’s talk stems from engagement with the UK, EU and US sanctions’ authorities in the context of sanctions delisting applications – it considers the enforcement approach of the sanctions’ authorities in the context of the Russia sanctions regulations, focussing upon the reasons provided by the sanctions’ authorities for the sanctioning of entities, individuals and vessels. Given that a significant number of sanctions designations have pertained to Russian oil, the talk considers the tension between the intended purpose of the sanctions and the G7 Price Cap.
• Evolution of the maritime sanctions landscape
  Jos Standerwick, Head of Membership, Baltic Exchange, Consultant, Maritime London
  Jos will explore the rapidly evolving maritime sanctions landscape, since the invasion of Ukraine. The political intent behind maritime sanctions and the commercial and compliance consequences of the utilisation of shipping as a tool of foreign policy.
• The impact of sanctions on private rights and obligations between parties to contracts
  Ravi Aswani KC, Barrister, 36 Stone Chambers, London & UCL Alumnus
  Ravi will consider the impact of sanctions on standard form shipping contracts, especially charterparties for which BIMCO now has Sanctions Clauses for Time Charter Parties, Voyage Charter Parties and Container Vessel Time Charter Parties. The presentation will focus on the private contractual consequences between parties where sanctions issues may have an effect on performance of the contract as per its original terms. It will include consideration of recent cases of interest.

17:40 Q&A
18:00 Concluding remarks (Melis Otmar)
18:15 Networking Reception
19:00 Event ends

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Host or Publisher UCL Faculty of Laws