Marine insurance: the effect of sanctions on claims

Mamancochet Mining Ltd v Aegis Managing Agency Ltd and Others [2018] EWHC 2643 (Comm) was a consequence of the political fall-out between the US and the EU on the need for the imposition of sanctions against Iran. Until May 2018 sanctions imposed by both the US and EU in 2012 had been suspended in January 2016. However, on 8 May 2018 the US unilaterally re-imposed the sanctions.

The EU refused to follow suit. The dispute in Mamancochet concerned a marine policy made before any sanctions had been imposed, giving rise to a loss after the sanctions were imposed and legal proceedings commenced after the US but not the EU had re-imposed the sanctions.