Maritime Mutual Insurance Association's registered office in central Auckland. Photo: ReutersBritain has sanctioned Maritime Mutual, the New Zealand-based marine insurer that was the subject of a Reuters special report into how it had helped in the trade of tens of billions of dollars of Iranian and Russian oil. The British sanctions imposed on Maritime Mutual Insurance Association, the company's main business based in Auckland, New Zealand, include an asset freeze and director disqualification. Maritime Mutual Association Limited, an affiliate in Gibraltar, was also sanctioned. The sanctions against Maritime Mutual are part of a package of nearly 300 measures that Britain said was its largest set of penalties since Russia's full-scale invasion of Ukraine in 2022.

Source: Otago Daily Times February 24, 2026 20:55 UTC