New Zealand Insurer Under Scrutiny for Backing Sanctioned Oil Tankers

Maritime Mutual, a New Zealand insurer, is under investigation for allegedly insuring tankers transporting sanctioned oil from Iran and Russia, raising concerns over compliance with international sanctions.

• Maritime Mutual is being probed for insuring vessels in a shadow fleet that deliver sanctioned oil from Iran and Russia, evading Western sanctions.
• The investigation, involving New Zealand authorities and international partners, seeks to uncover potential breaches of sanctions related to the Insurance of these tankers.
• One of the implicated vessels, the tanker Yug, departed from Qingdao, China, after unloading 2 million barrels of oil, highlighting the scale of sanctioned Petroleum transport.