Because of the US sanctions of the Cypriot company of the Russian businessman Viktor Vekselberg Lamesa Investments Limited may not receive interest on the loan which it granted British Bank Cynergy prior to the imposition of sanctions. The Bank has frozen the payment, and that the English court recognised this decision lawful, says RBC.
At the end of proceedings, a British court ruled that “did not violate its obligations and prevent default on the debt, refusing to pay interest on loans”. To receive payments Vekselberg should be excluded from the sanctions list or it needs to lose control of Lamesa, or the U.S. Treasury needs to issue a special license payments, according to the ruling of the court.
In fact, the UK court acknowledged that the institution of secondary U.S. sanctions, “foreign exempt the borrower from responsibility for the defaults to the address of the sanctioned person,” and the precedent “dangerous for the Russian businessmen and companies, who are in the us sanctions lists”, said the media.
Recall that Vekselberg was made to sanctimony list in April 2018.
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