In the Aercap Ireland case discussed here (link), the war risk insurers argued that international sanctions prevented them paying out the insured claims.

On the wording of the relevant sanctions clause, the court held that neither United States nor European Union sanctions prevented payment by an insurer to a non-Russian insured (in this case the lessors) under its insurance policy.

The relevant sanctions were aimed at pressurising Russia and not preventing an insurance payment to a non-sanctioned insured under its own insurance policy.

International risks and sanctioned regimes are constantly evolving, and sanctions clauses should be regularly reviewed.