O v C [2024] EWHC 2838 (Comm) - King's Bench Division, Commercial Court (Sir Nigel Teare, sitting as a Judge of the High Court) - 8 November 2024

Charterparty - Arbitration - Dispute as to whether cargo could be released to charterers under US sanctions - Order for sale of cargo - Whether proceeds should be paid into court - Risk of prosecution by US authorities - Arbitration Act 1996, section 44

Pursuant to a charterparty between the owners of the vessel and the charterers, a cargo of naphtha was loaded on board the vessel by the charterers at Singapore on 9 February 2023. Shortly after loading, the US Office of Foreign Assets Control (OFAC) added the charterers to its List of Specially Designated Nationals and Blocked Persons (the SDN List) under US Executive Order 13846.