UK insurer North Standard continues to provide protection and indemnity (P&I) cover to three LNG tankers owned by Greek shipping company Dynagas, despite the vessels being sanctioned by Britain in October 2025 for transporting Russian gas from the Yamal LNG plant. The Clean Planet, Clean Ocean, and Clean Vision are among the only EU-owned vessels still serving the plant. While UK sanctions bar the tankers from British ports and the UK ship registry, they do not prohibit British companies from providing insurance or financial services, exposing a regulatory loophole.

In May, the UK expanded sanctions powers to restrict maritime services including insurance, but the measure did not apply retroactively to the three Dynagas ships. All remaining exemptions end in January 2027, forcing British insurers to withdraw. This creates a divergence with the EU, which granted a 12-month exemption until July 2027 under pressure from the Greek government. Gonzalo Saiz Erausquin of the Royal United Services Institute warned this compliance nightmare would weaken collective sanctions and benefit Russia.

The deadline also threatens P&I clubs' reinsurance through Lloyd's of London, where bundled risks from US, UK, and EU insurers will face conflicting rules. Lloyd's chief executive Patrick Tiernan has lobbied for a delay, noting the London market handles 45% of the $51bn in global marine, aviation, and energy premiums. North Standard's Mark Church stated its policies cover third-party liability for maritime accidents, not the underlying trades.