Updated FAQs have been issued by the International Group following discussions with the UK Treasury.
The attached FAQs issued by the International Group of P&I Clubs address the the legal Status of EU Council Regulation 267/2012; the effect of the "grace periods"; and the impact on the cover provided by clubs.
Iran Sanctions: EU sanctions against Iran - Council Decision 1012/35 - IG FAQs 8 February 2012
The International Group's Sanctions Working group has developed an initial series of FAQs in relation to the recently announced EU additional measures against Iran contained in the Council Decision of 23 January 2012.
The International Group (IG) has liaised further with the China MSA, and with various ship pollution response organisations (SPROs), Shipowners and other interested parties in order to clarify a number of issues and to work towards ensuring, so far as possible, that there are suitable contractual arrangements in place to permit Members to be able to comply with the Regulations as easily and efficiently as possible.