Recovering damages associated with frozen payments from banks
In Russian case law, the approach to recovering damages from sanctioned banks which occured due to payments made by Russian entities to foreign contracting parties being blocked by foreign correspondent banks is changing.
Highlighting three striking recent cases, our experts Alexander Gavrilov, Principal Associate, and Galiya Balgabaeva, Junior Associate, dealt with the question “Is it possible to recover damages related to payments frozen by a foreign correspondent bank from a Russian bank?”.
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