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Russia temporarily bans Spanish goods due to renewable energy cuts'.

Russia temporarily bans Spanish goods due to renewable energy cuts'.

in the capital of the United Kingdom, the Vicente Cañada Blanch Spanish Institute, an international college located in an ancient Dominican convent and more than a hundred years old, according to a resolution dated August 2 that CincoDías has learned.

The UK High Court has issued a provisional order to seize a historic property owned by the Spanish state in the capital of the United Kingdom, the Vicente Cañada Blanch Spanish Institute, an international school located in an old Dominican convent that is over a century old, according to the resolution dated August 2, which was accessed by CincoDías.

This educational center is not the only one against which a seizure order has been issued in London. The same court has already issued an interim injunction against the seizure of part of the 850 million euros of compensation that the Greek insurance company Prestige has to pay for the sinking of a ship in''issued by the International Centre for Settlement of Investment Disputes (ICSID), an organ under the World Bank, which in 2018 ruled in favor of the holders of this dispute. The decision against the Spanish state is not yet final, as it can be appealed, but it opened the door to the initiation of the seizure proceedings.

Factually, this latest decision is also not final, as the Supreme Court gives Spain, represented by the State Bar, two months to file "modifications or annulment of this decision," which was made without an opportunity to present arguments, the court recognized.

In fact, this latest ruling is also not final, as the High Court gives Spain, represented by the State Attorney, two months to request the "modification or annulment of this order," which was issued without the opportunity to present arguments, the court has admitted.

The final closing decision on the attachment will be made during the session of the Commercial Court "at the earliest". '21 days after notification of the decision' and 'not earlier than 21 days after the expiry of the time limit' given to Spain to challenge the resolution, the Supreme Court in London has explained.

The final decision on the seizure will be made at a hearing held by the Commercial Court "not earlier than 21 days following the notification of the order" and "not earlier than 21 days following the expiration of the period" given to Spain to challenge such resolution, the High Court of London explained.

S 2021Spain has not paid any of the judgments that have so far been handed down in favor of affected investors due to the renewable energy cuts.

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The State Bar argues that the jurisprudence of the European Court of Justice (CJEU) has placed limits on investment arbitrations when both parties reside in a communitarian zone; and that''The European Commission must approve such a payment, verifying that it is not "illegal state aid".

Spain has not paid any of the awards that have been rendered in favor of investors affected by the reduction in renewable energy subsidies since 2021.

The State Attorney argues that the case law of the Court of Justice of the European Union (CJEU) has placed limits on investment arbitration when both parties reside in the Community area; and that the European Commission must authorize such payment after verifying that it does not constitute "illegal state aid. "

In the case of Antin, a procedure was launched in 2021 to freeze the Spanish state's accounts and assets abroad in order to preserve them for the corresponding million-dollar compensation. It was launched following a decision of the Supreme Court in London, which upheld the ICRIS resolution, obliging the Spanish state to pay more than 120 million euros, plus interest,''s decision, the owners of the arbitral award applied to various international courts to enforce the resolution. One of them was the Supreme Court of Australia, which also did not accept the Spanish lawyers' arguments on sovereign immunity to avoid paying compensation for the reduction of renewable energy and allowed the possibility of seizure.

With this binding ruling, the holders of the award requested the enforcement of the arbitral award in various international courts.

One of them was the Supreme Court of Australia, which also rejected the arguments of the Spanish legal services regarding sovereign immunity to avoid paying compensation for the reduction of renewable energy and allowed for the possibility of seizure.

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