US Sanctions Reason To Stall £30M Loan Interest, Court Says

Law360, London (June 30, 2020, 7:36 PM BST) -- A London appellate court ruled Tuesday that U.S. sanctions targeting a Cypriot lender's Russian owner justify Cynergy Bank's withholding millions of pounds of interest payments on a £30 million ($37 million) loan from that lender.

U.S. and Russian flags hung at the U.S. Embassy in Moscow, Russia. A London court has ruled that U.S. sanctions targeting a Cypriot lender's Russian owner justify Cynergy Bank's withholding millions of pounds of interest payments on a loan from that lender. (AP) The Court of Appeal upheld a lower court decision from September 2019 holding that Cynergy Bank Ltd. could rely on a clause in...

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