In addition to undertaking research and developing scholarship in the field of commercial and maritime law, the Institute of International Shipping and Trade Law (IISTL) is also committed to serving the needs of the legal profession by offering training events, seminars, and lectures on contemporary legal developments.

To this end, the IISTL organised a seminar that was held at the London offices of Hill Dickinson on 9 May 2013 to  consider the impact of international and national sanctions on various aspects of shipping and trade law. 

Sanctions involve a complex mix of both public and private law considerations and have both a direct and an indirect important impact on commercial, shipping and insurance activities. Consequently, the seminar attracted an audience of over one hundred traders, insurers, ship operators, charterers and lawyers who were keen not only to fully understand the relevance and impact of the various sanctions regimes that are currently in force but also the various contractual terms and enhanced due diligence that are now required.

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Professor Richard Williams (IISTL) discussing the impact of sanctions on charterparties

Mr Michael Harakis of Hill Dickinson opened the proceedings by providing an overview of sanctions from the perspective of international law. Professor Richard Williams (IISTL) then presented a paper commenting on the impact of sanctions on charterparty contracts  followed by Professor Andrew Tettenborn  (IISTL) who considered the implications of sanctions in the context of trade law. Finally, Simon Rainey QC (Quadrant Chambers)  presented a paper commenting on insurance aspects of the debate.  Panel discussions were led by Dr George Leloudas (IISTL) and Mr Anthony Woolich (Holman Fenwick and Willan) who shared his considerable personal experience of this subject with the audience.

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Mr Michael Harakis (Hill Dickinson) presenting his paper

Commenting on the event, Professor Richard Williams, Co-Ordinator of External Affairs of the IISTL, said:

“The shipping and trading world is a fast-changing world and the Institute believes that it has a responsibility to keep abreast of, and to comment on, those important developments that come to test the industry from time to time. There is no doubt that the increasing role that is played by sanctions is providing such a test. Therefore, the Institute was both pleased and honoured to be invited to comment on these developments before such an experienced and knowledgeable industry audience.”