Libya and beyond: legal implications of force majeure
Legal systems
While ongoing civil unrest in Libya may have a minimal long-term impact on global oil prices – the country only produces 2% of the global oil supply – it has a significant impact on commodity traders with interests in the county. They are now facing a number of practical difficulties due to the fluid nature of the crisis.
This article focuses on some of these difficulties, and examines the legal issues that may arise from them. Many of these issues – the banking system and the interplay of
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