Reference to our latest circular of EU proposal about Iran Sanction dated on 27 March that the EU has decided to permit insurers to continue to provide insurance cover on shipments until the 1st July 2012, this legislation is enacted in EU Regulation 267/2012 and the UK Treasury Dept has issued Council regulation (EU) No 267/2012 to abide by EU law.
Reference is requested to the website of the UK Treasury dept. :
images/circulars/fin_sanc_public_notice_reg267_2012.pdf
Section VII of the UK Treasury Council Regulation relates to the provision of insurance, and the relevant extract is quoted below.
QUOTE
Section VII
Restrictions on the provision of insurance and reinsurance related to the import, purchase or transport of oil, petroleum products or petrochemical products.
71. The Department of Business, Innovation and Skills are the competent authority in the UK for the purposes of this Chapter of the Regulation, However queries related to Articles 11(1)(d) and Articles 13(1)(d) and their associated exemptions/derogations can be addressed to the Treasury in the first instance.
72. Article 11(1)(d) prohibits the provision of financing or financial assistance, including financial derivatives and insurance and reinsurance, related to the import, purchase or transport of crude oil, petroleum products from Iran.
73. Article 12(1)(a) allows the provision of insurance, until 1 July 2012, where that insurance is necessary for the execution of a trade contract for the import, purchase or transport of crude oil, petroleum products from Iran which was concluded before 23 January 2012.
UNQUOTE
Some insurers have different interpretation of the foregoing rules and are not agreeing to confirm cover in view the consequences for insurers breaching any sanctions are serious.
Some insurers consider the words in Article 73 ‘…or transport of crude oil…’ as requiring the contract of carriage to be concluded before the 23 January 2012. We consider that only the trade contract should be subject to the cut off date of 23 January and that the contract of carriage to ship the cargo is an ancillary contract and hence does not need to be concluded by this date as a condition of provision of insurance cover.
The International Group of P&I Clubs have clarified the position with the UK Treasury Dept who have advised that a contract of carriage is an ancillary contract and does not need to be concluded before 23 January 2012.
See attached file: ALCO20120028Council Regulation (EU) No 267-2012.pdf
欧盟理事会第267/2012号决议
我司3月27日《欧盟就暂时解除伊朗原油运输保险禁令达成协议》通函中提及，欧盟已决定允许保险人在2012年7月1日前继续为原油运输提供保险，欧盟理事会第267/2012号决议正式公布该项立法，英国财政部已根据欧盟法律发布该决议。
请参考英国财政部网站：images/circulars/fin_sanc_public_notice_reg267_2012.pdf
英国财政部理事会决议第七部分涉及提供保险，现摘取相关信息引用如下：
引用：
第七部分
向进口、购买或运输石油、石油产品或石化产品提供保险和再保险服务的限制。
71.英国商业、创新和技术部门是负责决议该部分规定的英国主管当局，然而，对于条款11(1)(d)和条款13(1)(d)以及与此相关的解除/废除的询问 ,可以先提交给英国财政部。
72.条款11(1)(d)禁止向从伊朗进口、购买或运输的原油、石油产品提供金融或财政资助，包括金融衍生产品及保险和再保险。
73.条款12(1)(a)允许在2012年7月1日前提供保险，具体是指为执行2012年1月23日以前签订的从伊朗进口、购买或运输原油、石油产品的合同所提供的必要的保险。
引用完毕
一些保险人对于上述规则有不同的解释，考虑到保险人若违反制裁会产生后果严重，因而不同意安排保险。
一些保险人认为第73条中的措辞 “……或者运输原油……” 是指要求2012年1月23日前签订运输合同。我们认为仅贸易合同受1月23日截止日期的约束，货物运输合同是辅助合同，因此无需将在此日期前签订作为提供保险的条件。
国际保赔协会集团已和英国财政部一起澄清立场，认为运输合同是辅助合同，无需在2012年1月23日前签订。
以上由 ANDREW LIU & CO.,LTD 编译，应以英文为准！
详细信息请参阅附件。
