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What is Banco San Juan v. PDVSA Debt Claims Judgment about?

The High Court of Justice in England and Wales is hearing two substantial debt claims by Banco San Juan Internacional Inc against Petróleos de Venezuela S.A., totaling approximately US$86 million, stemming from credit agreements made in 2016 and 2017. PDVSA argues that US sanctions have suspended its payment obligations and that the claims may be unenforceable due to the illegality of performance under US law. The case highlights the complexities of international finance amid geopolitical tensions and sanct

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bhavyagujral1.5

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EN