Different regimes in different countries hurt compliance
Shipping insurers at Lloyd’s say efforts to enforce Iran sanctions were hampered by the differing sanctions regimes in different countries, the Times reports.
“The Lloyd’s market has systems and controls in place to comply with international sanctions and, while we support their concept, we recognise that there are inconsistencies in policies of individual nations which means sanctions do not always achieve their aims,” a spokesman for Lloyds said.
“We urge that nations need to be more co-ordinated in their sanctions policies and their underlying targets.”
