{"id":3469,"date":"2025-10-28T07:33:54","date_gmt":"2025-10-28T05:33:54","guid":{"rendered":"https:\/\/ukrmedia.news\/?p=3469"},"modified":"2025-10-28T07:33:54","modified_gmt":"2025-10-28T05:33:54","slug":"new-zealand-insurer-russia-iran-oil-sanctions","status":"publish","type":"post","link":"https:\/\/ukrmedia.news\/en\/economics\/new-zealand-insurer-russia-iran-oil-sanctions\/","title":{"rendered":"New Zealand insurer facilitated export of sanctioned oil from Russia and Iran"},"content":{"rendered":"

A New Zealand insurance company helped Russia and Iran export oil<\/h2>\n

Agency investigations Reuters<\/em> found that the company Maritime Mutual<\/strong>, registered in New Zealand and managed by a British citizen Paul Rankin<\/strong> and his family, played a key role in providing insurance support for tankers transporting oil from Iran and Russia, despite Western sanctions.<\/p>\n

The company provided insurance more than 130 tankers<\/strong>, The company's main business is the transportation of sanctioned oil, which is carried out by a fleet that conceals the routes, names of vessels and their actual activities.<\/p>\n

\n

How it worked<\/h2>\n
    \n
  • \n

    A tanker without insurance would not be able to enter many ports - P&I insurance (protection and indemnity) is mandatory.<\/p>\n<\/li>\n

  • \n

    Reuters has found that Maritime Mutual has insured about one sixth<\/strong> all tankers subject to US, EU or UK sanctions.<\/p>\n<\/li>\n

  • \n

    Cases where policies were issued to before vessels are authorised<\/strong>, as well as after they appeared on the sanctions lists<\/strong>.<\/p>\n<\/li>\n<\/ul>\n

    The company denied the violation: it said it had zero tolerance for sanctions and operated under \u00abstrict compliance standards\u00bb.<\/p>\n

    \n

    Investigations in New Zealand<\/h2>\n

    In October 2025, the New Zealand police conducted searches at Maritime Mutual's offices, seizing documents related to an investigation into possible violations of sanctions and anti-money laundering rules.<\/p>\n

    The investigation is being conducted jointly with international partners: Australia, the United Kingdom and the United States.<\/p>\n

    \n

    Implications for sanctions policy<\/h2>\n

    This case demonstrates that even when states impose sanctions their implementation depends on a whole network of participants: shipowners, insurers, brokers, ship registries<\/strong>.<\/p>\n

    Analysts note: \u00abEven when a vessel is sanctioned, if it has insurance and the insurer has links with major reinsurers, it can continue to operate.\u00bb.<\/p>\n

     <\/p>","protected":false},"excerpt":{"rendered":"

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