There has been increased tension between the USA and Iran during the last couple of years, but the crisis escalated with the recent killing of the highest ranking general of Iran by USA forces. At the end of 2019 and early 2020, the USA enforced additional sanctions to Iran. Consequently, there have been many legal and commercial implications directly affecting trade with Iran. With the enforcement of unprecedented strict USA sanctions, very limited trading is allowed with Iran. However, the commercial reality is that most parties will not jeopardise being blacklisted by the USA government even for unsanctioned and legal trading. For example, most H&M underwriters shall not cover any legitimate losses arising in connection with Iran trading. On the other hand, P&I clubs may cover legitimate losses, but insurance remuneration may not be authorised internally and or by the Club's bankers and or corresponding bankers until sanctions are lifted. The above suggest that it is almost impossible to trade with Iran and legal advice, including comprehensive screening of counterparties, cargo interests etc., is necessary. It is of course open to Owners to mitigate, to some extent, the risk by incorporating into the charterparties Euro payment clauses or clauses assigning claims handling and settlement of claims to Charterers.