UK brings in sanctions blocking Russian access to aviation insurance
AM Best put ratings of suite of Russian insurers and reinsurers on negative watch at the start of the month.
Russian companies in the aviation or space industry will be prevented from making use of UK-based insurance or reinsurance services directly or indirectly, the UK government has announced.
In a statement released by HM Treasury today, the government said the move was in response to the invasion of Ukraine by Russia.
The economic sanctions have been designed to limit the benefit of access to the global insurance and reinsurance market, HM Treasury reported.
It stated: “Through Lloyd’s and the
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