The doctrine of force majeure is a legal principle that allows parties to a contract to be excused from fulfilling their obligations when an extraordinary event or circumstance beyond their con... Introduction A “force majeure” clause is an essential component in contracts, especially in the dynamic environment of global commerce. This protects parties from liabilities arising from unforeseeable and uncontrollable events that prevent the performance of contractual obligations. In India, force majeure clauses have gained significant prominence in managing contractual risks, especially following the recent global crises such as the COVID-19 pandemic and other natural disasters. The ... Lukoil Force Majeure: Lukoil has declared force majeure at the West Qurna-2 oilfield in Iraq due to Western sanctions impacting its operations, potentially leading to a complete exit from the project if unresolved in six months. Force Majeure is derived from French Law, which means “Superior Force”. It is a clause in an agreement or contract whereby the non-performing party is exempted from any legal consequences if the non-performance of the contract is beyond the human’s control to fulfil the contract.
