Further to the Joint Comprehensive Plan of Action (“JCPOA”) agreed  on 14th July 2015, the EU and the United States agreed on 16th January 2016 to partially lift the nuclear-related sanctions against Iran. Whilst operators are certainly eager to engage in commercial activities with Iran, the 2nd largest economy in the region, it is critical first to review the extend of the current limitations.

All P&I Clubs have now issued specific Circulars to provide assist their Members – please contact us if you would like more details, although all Circulars can be found on the Clubs’ websites.

And the international law firm Reed Smith have put together a detailed advice  in this respect on their website.

Ince & Co have also issued a newsletter specifically focused on clients in Hong Kong, Singapore and the PRC, that is very helpful.

We invite all Traders, Operators and Owners to seek consult with their insurers and lawyers prior to trading to Iran, to ensure that they are not in breach of the limitations still in place, and therefore are fully covered for such trade.

Please contact us for more information.

 

 

 

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