Iran Sanctions – Extension of relief period

22 July 2014 No.675

Members are referred to the previous circulars No.13-022 dated 20 January 2014 and No.13-024 dated 29 January 2014.


The US government and EU Council announced that they would extend the existing relief period of US and EU sanctions against Iran until 24 November, 2014. The sanctions regime remains as it did before 20 July 2014. Therefore, as advised in the above mentioned circular No.13-024,the Club may not be able to provide effective cover after the relief period for claims even if the incidents occurred during the relief period.


Members are strongly recommended not to enter into contracts for transportation of cargoes which are for a limited period permissible by the suspension of prohibitions without prior consultation with the Club in relation to insurance cover arrangements.