An awaited decision on the enforceability of the sanctions provision in policies of insurance heard in the UK courts has turned out to be of not much general assistance.

The English High Court found that, although an insurer is not liable to pay a claim where the payment would be prohibited under EU or US

Insurers must remember that jurisdictions in which the world’s major insurers operate such as the EU, Switzerland and the USA have imposed sanctions against Russia. Russian corporations and shareholders may be named on a sanctions list which will affect the enforceability of any reinsurance of a policy where a listed person is indemnified.

There are

The European Union, the USA and Canada have imposed sanctions on a number of Russian and Ukrainian individuals and legal entities. The nature and scope of the sanctions are explained in this briefing.

If a bank has entered into credit risk mitigation arrangements with Russian or Ukrainian counterparties, or relating to Russian or Ukrainian assets,