The cause of action against the issuing banks, Udruzena Beogradska Banka and its related entities, was properly dismissed on the ground that they were prohibited from honoring plaintiff's draw down request on the letter of credit by the Federal asset freeze in effect at the time (50 USC § 1702 [a] [3]). Plaintiff's present claim of anticipatory breach based on the banks' failure to offer to honor the letter of credit once sanctions are lifted in the future (see, Norcon...
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