Region: Iran, Islamic Republic of

A Dutch court has upheld an investment treaty award ordering Bahrain to pay €214 million to two Iranian state-owned banks for the “politically motivated” expropriation of their local banking venture in the wake of the 2015 Iran nuclear deal.

23 April 2025

An Emirati company and its US CEO have failed to revive a US$326 million ICSID claim against Armenia over a billion-dollar project to build transport links to Iran.  

10 February 2025

The Hague Court of Appeal has refused to overturn the enforcement of an award worth US$2.75 billion won by the UAE’s Crescent Petroleum against the National Iranian Oil Company. 

17 January 2025

UPDATED: White & Case and Willkie Farr & Gallagher have been instructed to defend Pakistan in a multibillion-dollar arbitration recently launched by Iran over a gas pipeline project disrupted by US sanctions. 

30 October 2024

The Swiss Federal Supreme Court has refused to review a jurisdictional award from Crescent Petroleum’s US$32 billion arbitration against the National Iranian Oil Company, based on the disqualifications of France’s Laurent Aynès and Swiss arbitrator Charles Poncet from the tribunal.

19 July 2024

The UAE’s Crescent Petroleum has obtained a default judgment from a US court enforcing an award now worth US$2.75 billion against the National Iranian Oil Company.  

02 May 2024

A Belgian shipping group says it has launched arbitrations against two trading companies in a dispute over oil storage, after a US investigation found the oil was of Iranian origin and potentially violated US sanctions.  

17 April 2024

The ICC Court has disqualified Swiss arbitrator Charles Poncet from hearing Crescent Petroleum’s US$32 billion arbitration against the National Iranian Oil Company after he was accused of displaying anti-Muslim bias during a television broadcast about swimwear.

30 November 2023

South Korea has confirmed the transfer of billions of dollars of Iranian funds that were frozen four years ago because of US sanctions – and gave rise to the threat of an investment treaty claim by Iran’s Central Bank.

19 September 2023

The Central Bank of Iran is preparing to file a treaty claim against South Korea after local banks froze US$7 billion of assets due to sanctions – as a Texas private equity group seeks to revive a multibillion-dollar claim against the east Asian state through ICSID annulment proceedings.

01 August 2023