The Supreme Court has delivered the final word on the long-running case RTI Ltd v MUR Shipping BV [2024] UKSC 18. Many readers will be familiar with the facts but briefly MUR had entered into a Contract of Affreightment with RTI to ship bauxite in bulk to Ukraine. The contract provided for payment for the shipments to be made in US dollars. However, at some point, the parent company of RTI was made subject to US sanctions, which prevented payments in the contractual currency.
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