A charterer hit by sanctions imposed on Russia’s former richest man is appealing to the English courts over the loss of a $2m arbitration award when its contract was ended by Dutch bulker specialist MUR Shipping.
MUR Shipping triggered the force majeure clause in its contract of affreightment with RTI in April 2018 four days after the US government imposed sanctions on metals magnate Oleg Deripaska, then president of the charterer’s parent company, Rusal.
