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flag UK sanctions New Zealand insurer Maritime Mutual over alleged Russian oil shipping ties.

flag The UK has sanctioned Maritime Mutual, a New Zealand-based marine insurer, over allegations it insured vessels in the shadow fleet transporting sanctioned oil from Russia, Iran, and Venezuela. flag The move, part of nearly 300 sanctions announced on the fourth anniversary of Russia’s invasion of Ukraine, includes asset freezes and director disqualification for the company and its Gibraltar affiliate. flag The UK cited the insurer’s alleged support of Russia’s strategic energy sector, backed by a Reuters investigation showing it insured nearly one in six sanctioned tankers. flag A temporary licence allows existing policies to be wound down until April 9. flag Maritime Mutual denies wrongdoing, asserting a zero-tolerance policy and strict compliance, but has not commented publicly.

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