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New Zealand insurer Maritime Mutual is under investigation for insuring sanctioned tankers, enabling illicit oil trade.
New Zealand-based insurer Maritime Mutual is under investigation for allegedly insuring nearly one in six sanctioned tankers in the shadow fleet, enabling the global trade of Iranian and Russian oil despite Western sanctions.
The company, led by Briton Paul Rankin, provided coverage for vessels using deceptive practices to evade detection, facilitating billions in sanctioned energy shipments.
New Zealand police raided its offices and a residence in October, seizing documents and questioning individuals over potential sanctions violations, money laundering, and terrorism financing.
While no charges have been filed, Maritime Mutual claims a zero-tolerance policy and recently stopped insuring shadow fleet and Russian oil vessels.
The probe continues, highlighting growing scrutiny of financial intermediaries in sanction evasion networks.
La aseguradora neozelandesa Maritime Mutual está bajo investigación por asegurar buques petroleros sancionados, lo que permite el comercio ilícito de petróleo.