UK Updates Russia Sanctions Guidance for Aviation Insurance Ban
The U.K. updated its guidance on the sanctions relating to the provision of insurance and reinsurance services over aviation and space goods and technology to a person or entity connected with Russia or for use in Russia. The Office of…
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Financial Sanctions Implementation said that the restrictions "would not apply where the insurance is for the benefit of the non-Russian owner of the items, rather than their user or operator. It also doesn't apply where the items either remain in Russia as the result of the termination of a lease and against the lessor’s will or are flown out of Russia in the process of returning them to their owner.