In the ever changing world of sanctions no measure appears to be off the table.

Whereas the EU Member States unanimously recognised the application of the 1996 Protocol to the 1976 Convention on Limitation of Liability for Maritime Claims, on the 23 April 2009 the European Parliament adopted Directive 2009/20/EC on the insurance of Shipowners for maritime claims.

The Regulation, originally promulgated by the State Council on 9 September 2009, has been coming into effect by stages since 1 March, 2010.

This legislation covers a wide range of issues regarding oil pollution including prevention, response and cleanup, as well as the establishment of a compulsory insurance regime.

A RaetsMarine Insurance circular about the US and EU sanctions against Libya.

As from 1 July 2011 all Turkish flagged vessels above 300 GT and all other vessels calling ports or other facilities within Turkish territorial waters will be required by law to have suitable protection and indemnity insurance cover against ‘maritime claims’.

In light of the events that followed last year’s presidential elections, the Council of the European Union decided on the 14

th January last to extend their 2005 restrictions on the Ivory Coast.

The implementation of a European Union regime for advance cargo declaration within its member States.

As the United States prepares to tighten sanctions on Iran, it has become necessary to evaluate progress of this matter as well as its possible global impact in order to ensure that the quality and efficiency of our cover remains unaffected.

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