Financial sanctions orders prohibit a firm from carrying out transactions with a person or organisation (known as the target). In some cases the order will prohibit a firm from providing any financial services to the target. Given the impact of International Sanctions regimes on Members and Assureds further information is provided on our dedicated SANCTIONS pages.
The Club’s Sanctions Policy is to ensure it operates effective procedures to:
•Prevent transactions with a person or organisation (the target) listed on the UK Consolidated Financial Sanctions List (UK) or the Specially Designated Nationals List (USA) and any other jurisdictions in which it operates.
•Prevent breaches of UK and international trade sanctions
In this section we provide information on sanctions legislation and developments of relevance to members, and we consolidate related news that we have previously reported by way of Circulars and Alerts.
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NEWS ALERTS AND INFORMATION ON TARGETED COUNTRIES
- North Korea
- Ukraine / Russia
- Sanctions legislation applicable to Members
- Sanctions compliance by Members
- Effect of sanctions legislation on cover
- Sanctions legislation applicable to the Association
- Iran Sanctions - Circular of 29 May 2018 - Click here
- Iran Trading - P&I cover, Circular of 24 February 2016 - Click here
- Iran Sanctions - Lifting of Certain Sanctions under the Joint Comprehensive Plan of Action (JCPOA), Circular 22 January 2016 Click Here
- Crimea and Sevastopol - EU Council Regulation No 825/2014 Click Here
- Crimea and Sevastopol - EU Council Regulation No 692/2014 Click Here
- Iran Sanctions - EU Prohibitions Circular 27 June 2012 Click Here
- Trade Sanctions and their effect on P&I cover Circular 2 March 2011 Click Here
- Trade Sanctions and their effect on P&I cover Circular 3 August 2010 Click Here
- Trade Sanctions and their effect on P&I cover Circular 5 July 2010 Click Here
Countries which implement sanctions legislation often make additions and amendments to designated entities or targeted transactions at short notice. Members should not act in sole reliance on the information provided on this site but make their own enquiries and obtain independent advice in respect of the sanctions legislation in the jurisdiction to which they are subject.