Africa-Press – South-Sudan. The High Court in London has upheld a court order in favor of a commodities trading company, preventing the Republic of South Sudan from entering into new prepayment contracts for oil shipments.
The order, issued on June 15 and now in effect, confirms a ruling from May that prohibits South Sudan from entering into any new prepayment contracts for Dar Blend or Nile Blend crude oil until it settles its outstanding debts to the commodities trading company, pending further hearings.
A spokesperson for the commodities trading company stated, “The company welcomes the High Court’s decision to extend the court order that prevents the Republic of South Sudan from accepting any further prepayments for crude oil and prohibits any third party from facilitating such arrangements.”
The company announced that it has received final award letters from the government of South Sudan for two crude oil shipments, scheduled to be received before November.
It added, “We look forward to continuing positive commercial discussions regarding additional shipments.” The commodities trading company had filed a lawsuit last year in London courts challenging claims that South Sudan failed to deliver oil shipments purchased under prepayment agreements for 2024 and 2025. The company received its first shipment in February.
