GAR Live London Lookback: Sanctions – a triangular look

Consider the following, not-impossible scenario. An arbitration in Switzerland, with UK and Iranian parties. The arbitrators are from France, Belgium and India. Do any sanctions apply? Would your answer change if one of the arbitrators were from the US? Such questions were discussed at last year’s GAR Live London, guided by Hans van Houtte, then president of the Iran-United States Claims Tribunal.