Arbitration analysis: The London Circuit Commercial Court (LCCC) made a rare finding that it was able to determine whether an arbitral tribunal had jurisdiction to hear a dispute under an arbitration agreement, in an application made pursuant to section 32(2) of the Arbitration Act 1996 (Arbitration Act). The underlying dispute concerned a currency swap agreement between Barclays Bank plc (Barclays) and VEB.RF (VEB), in which Barclays claimed it was lawfully unable to pay a sum that would otherwise be due and owing to VEB under the contract as VEB had been sanctioned. After VEB commenced court proceedings in Russia against Barclays, Barclays obtained an anti-suit injunction (ASI) preventing the dispute from being heard otherwise than by LCIA Arbitration, pursuant to the terms of the parties’ arbitration agreement. Barclays later sought to amend the ASI to allow the dispute to be heard in the LCCC, arguing that the arbitral tribunal had no jurisdiction because Barclays had exercised its contractual right to require the dispute to be heard by the courts. Written by Tatiana Minaeva, partner, and Ana Margetts, associate, at RPC.