New European Union Measures against Iran – Council Decision 2012/35 dated 23 January 2012 – Frequency Asked Questions – issued on 8 February 2012

9 February 2012 No.11-022
EU foreign ministers agreed at a meeting on 23 January 2012 to impose further sanctions on Iran. For details of the EU Decision, please find the attached Council Decision 2012/35/CFSP of 23 January 2012.

Following the adoption of the Council Decision, the International P&I Group have examined in detail various issues relating to the extent of the prohibitions as well as impact on insurance and reinsurance cover arrangements and prepared for the FAQs for the guidance to Members. Members are strongly recommended to consider the contents of the FAQs carefully before they decide to engage in any activities which may be subject to any sanctions.

Should Members have any queries regarding this issue, they should contact the Club.