The court struck down sanctions on a long list of companies alleged to be linked to Islamic Republic of Iran Shipping Lines (IRISL) but this is not expected to restore access to hull insurance or protection-and-indemnity (P&I) club cover.

The ruling by the European Union (EU)’s General Court follows agreement by the P5+1 countries to further extend until the beginning of July 2015 a limited suspension of insurance sanctions originally agreed a year ago.