The Law Debenture Trust Corporation plc v. Ukraine

Abstract

Economics, trade and finance — Trade sanctions — Embargoes — Protectionism — Whether sanctions amounting to economic duress under English law — Relationship between international law and municipal law

Recognition — States — Legal personality of a State under English law — Legal capacity of a State under English law — Whether recognized as a State by United Kingdom Government — Whether Ukraine having capacity to issue bonds — Bond issuance illegal under Ukrainian law

Relationship of international law and municipal law — Customary international law — Personality of States — Capacity to act in municipal law of another State — Dealings between sovereign States — Governments — Whether defence of duress justiciable — Whether duress of person or of goods constituted by threats to safety of a State’s citizens

Reprisals and countermeasures — Countermeasures — Ukraine — Russia — Violation of territorial sovereignty — Whether non-repayment of bonds justified as a proportionate countermeasure — Whether doctrine of countermeasures recognized under domestic law — Relationship of international law and municipal law — The law of England