WASHINGTON — New trade sanctions aimed at Russia’s space sector were announced March 9 by UK Foreign Secretary Liz Truss.
While the announcement focused on new aviation sanctions strengthening an overflight and landing ban imposed on Russian aircraft in response to Russia’s invasion of Ukraine, additional trade measures “will prevent UK exports of aviation or space-related items and technology to Russia, including related services such as insurance and reinsurance services.”
“This means cover is withdrawn on existing policies and UK insurers and reinsurers will be unable to pay claims in respect of existing policies in these sectors,” the announcement states.
The announcement said “the new measures will further tighten the growing economic pressure on Russia and ensures the UK is in line with sanctions imposed by our allies.”