Enforcing International Arbitral Awards in the Age of Geopolitical Tensions
DOI:
https://doi.org/10.52028/rbadr.v7.i13.ART07.QAKeywords:
Arbitration, Awards, Enforcement, Sanctions, Public PolicyAbstract
The enforcement of international arbitration awards faces a growing threat: the specter of sanctions. This article explores the complex challenges when award creditors seek to enforce arbitral awards against sanctioned states. The current framework, embodied by the New York Convention, offers a foundation, but its effectiveness dwindles in the face of sanctions regimes and claims of sovereign immunity. Award creditors navigate a labyrinth, their path entangled with geopolitical tensions and the ever-shifting landscape of international relations. This article dissects the intricate interplay between sanctions, sovereign immunity, and the impact of the New York Convention on sanctions regimes. It analyses how these factors affect enforcement, jeopardising the core of international arbitration – the promise of a predictable and enforceable method for resolving cross-border disputes. The article concludes by acknowledging potential solutions but emphasising the urgent need to address the fundamental challenges before establishing a robust and predictable enforcement system. International arbitration can only fulfil its role as a cornerstone of global commerce and investment.
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