An update on the lifting of sanctions against Iran

A version of this article appeared in the 11 March 2016 edition of Insurance Day

With Iran’s impressive oil and gas output, the marine and energy sectors are regarded as important areas of focus for Insurers and Reinsurers. As a result of the release of EU sanctions, or the lifting of “restrictive measures,” as it is known, EU Insurers and Reinsurers are now able, in principle, to provide cover to oil companies, as well as to cargo owners, ship owners and portauthorities. The activities and associated services which are no longer prohibited extend to financial, banking and insurance measures and include the oil, gas and petrochemical sectors, shipping, shipbuilding and transport sectors.

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This information is intended as a general discussion surrounding the topics covered and is for guidance purposes only. It does not constitute legal advice and should not be regarded as a substitute for taking legal advice. DWF is not responsible for any activity undertaken based on this information.

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Jonathan Moss

Partner - Head of Transport Sector

I act for international traders, charterers, shipowners, insurers and reinsurers, handling commercial disputes often concerning high profile, international incidents. I am ranked in three separate areas of practice in the leading, global legal directories.