On 27 July 2015, Lloyd's issued a bulletin on the use and function of sanctions clauses in (re)insurance contracts. These types of clauses typically provide that no cover is deemed to be in place (and no claims will be payable) if it would mean that the (re)insurer would be exposed to trade or economic sanctions.   The bulletin replaces Lloyd's October 2014 guidance (and effectively updates the October 2014 version to include specific guidance on the use of such clauses in German market policies by non-German (re)insurers).  This includes that the German Federal Ministry for Economic Affairs and Energy has recently confirmed that, in its view, the London market standard sanctions clause (LMA 3100) does not comply with German anti-foreign boycott legislation when used by German 'resident' (re)insurers (as defined under German law), and use of the LMA 3100 by (re)insurers who are not German residents does not contravene the relevant legislation.