Category: z-excludeALL

On 8 March 2022, the UK introduced new sanctions preventing Russian companies in the aviation and/or space industries from accessing the UK insurance and reinsurance market directly or indirectly. Initially announced on 3 March 2022, the measures seek to “further tighten the growing economic pressure on Russia” and to ensure that the UK is “in line with sanctions imposed by [its] allies.” The New Aviation Insurance Restrictions The new reg 29A of the Russia (Sanctions) (EU Exit) Regulations 2019 prohibits…