Trade Sanctions Legislation and its effect on P&I cover (5.410)

This circular explains that the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 is now in force and may affect cover for Members involved in certain trades connected with Iran.

London P&I also notes that the legislation may sanction the provision of insurance for those trades and that the Committee will consider what action, if any, is needed to protect the Association. Members carrying, or contracted to carry, the relevant cargoes are asked to contact the Managers.