International oil spill fund to enter force
An international protocol increasing levels of compensation available to oil spill victims is set to enter force after being ratified by Spain. The supplementary International oil pollution compensation (IOPC) fund boosts the maximum payout for individual spills more than five-fold to over US$1,100m (EED 16/05/03). It will come into existence in March. Meanwhile, EU ministers failed to agree a common position on liability for oil pollution ahead of IOPC talks in February. See press releases from IMO and EU transport council.
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