The Role of Force Majeure and Hardship in the Termination of Iranian Oil Contracts: An Analysis of Judicial Practice and International Arbitration
The oil industry in Iran, due to its capital-intensive and long-term nature, has consistently faced geopolitical risks, market volatility, and legal and political fluctuations. This reality significantly reinforces the necessity of drafting oil contracts in a manner that enables them to withstand crises and unforeseeab...