What happens to contracts and business relationships interrupted by a sudden designation?

A sanctions designation may suspend contractual performance where payments, assets, goods, or services become blocked or prohibited. Contracts do not automatically terminate, and force majeure or illegality clauses apply only where their wording and governing law cover the situation.

Counterparties must avoid prohibited dealings unless a general or specific licence permits limited activity, such as winding down an existing transaction. Delisting removes the sanctions restriction but does not automatically restore a contract that has already been terminated.