Litasco SA v Der Mond Oil and Gas Africa SA & Anor (Rev1) [2023] EWHC 2866 - 15 November 2023 (Foxton J)

The Court granted Summary Judgment to Litasco (unpaid Sellers of crude oil to the Defendants) in a Є45m claim, pursuant to a debt re-scheduling Agreement. The Court dismissed the Defendant’s various arguments including those under the UK 2019 Russia Sanctions Regulations, and illegality. The Regulations did not apply to the transaction (involving Swiss/Senegalese entities and West African countries) or to any of the ‘persons’ involved (neither Swiss Litasco, nor its Russian parent, Lukoil, was Sanctioned, nor was any individual with a controlling stake; the Defendants failed to prove that President Putin had de facto control of the Claimants; paying the scheduled debt would not make funds available to a Russian person in connection with the export of energy-related goods.