The ever-changing world of sanctions

Re/insurers and their clients face the challenge of keeping up with changes to sanctions and sanctions regimes

MARINE insurers are old hands at dealing with international sanctions. As a tool of coercive diplomacy and economic warfare, sanctions have been employed since before the Second World War. Sanctions have been an integral part of most recent global conflicts, from the US embargo of Cuba to the UN sanctions on Saddam Hussein’s Iraq and now the Russia-Ukraine war.