Asia ADR Week 2021: Impact of Sanctions on Arbitration: Shift to the East?
Session 1 – Impact of Sanctions on Arbitration: Shift to the East?
The world continues to witness the occurrence of transnational disputes on a daily basis and the consequences arising from them have been the subject of discussion not just by politicians but, the men on the street. A recent example of such large-scaled disputes includes the economic sanctions imposed upon Iran and Russia by the United States of America, which has impacted the world’s oil production and energy sectors. Notwithstanding this, parties are nevertheless determined in their continued engagement of cross-border business, with ADR often being seen as a cushion to preserving their relationships in the event of a dispute. To this end, parties originating from the West have exponentially begun to prefer resolving such disputes in ADR hubs located in the East. Is there an element of distrust towards the West contributing to this phenomenon?
Date: 19 August 2021
Time: 8.00am – 6.30pm