LEX FORI ECONOMIC SANCTIONS IN THE CONTEXT OF PRIVATE INTERNATIONAL LAW

The article presents a comprehensive study of the issue of economic sanctions under the legislation of the forum state (lex fori) in the context of private international law. It examines the content and legal nature of economic sanctions, which are considered as public law overriding mandatory rules establishing restrictive economic measures. It is determined that such sanctions serve as an instrument of state policy and are applied in the public interest to achieve specific political objectives. Their legal characteristics are outlined, including their mandatory application regardless of the chosen law. It is established that the term “mandatory rule,” as used in the Law of Ukraine “On Private International Law,” should be understood and identified as “overriding mandatory provisions” in the context of the provisions of the European Rome I Regulation. The composition of economic sanctions under lex fori is analyzed, including unilateral sanctions imposed directly by the powers of the respective state, unilateral sanctions that the state has joined, and international sanctions imposed by the United Nations Security Council. It is proven that economic sanctions under lex fori are of the absolute priority in legal application compared to other rules of both national and foreign law, regardless of the substantive law applicable to a particular case. Special attention is given to the correlation between the overriding mandatory rules of lex fori and the public policy exception in private international law. It is established that the key difference between these legal categories lies in their purpose: the public policy exception aims to prevent unacceptable consequences deriving from a foreign rule, whereas the overriding mandatory rules of lex fori are intended to ensure the application of certain provisions of the national law of crucial importance.