Trade Sanctions Legislation and its effect on P&I cover (5.403)

This circular explains how proposed and existing sanctions measures relating to Iran and Myanma may affect shipping, insurance and P&I cover. London P&I also notes the possible impact of proposed US legislation on ships, owners, charterers, shipmanagers, crew and insurers.

It highlights the risk of sanctions exposure for Members involved in carriage of oil products to Iran and confirms that the International Group is monitoring developments.