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Sanctions Sustainability Insurance

Sanctions stopping Iran paying into oil spill fund

  • Iran wants next week’s IMO LEG113 meeting to consider leniency for countries prevented by sanctions from paying their contributions
  • IOPC Funds has waived Iran’s interest due since 2023, and oil spills are still covered
  • Oil companies pay for the system, but member states manage it

  • News

Iran has asked the IMO’s Legal Committee for leniency from the IOPC Funds for not paying its contributions because of Western sanctions. But its fears of penalties may be misplaced

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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