Ukraine-Russia crisis [8] – sanctions: insurance for aviation, space; crypto-assets

Susannah Cogman (+44 (0)20 7466 2580, susannah.cogman@hsf.com), partner and Elizabeth Head (+44 (0)20 7466 6443, elizabeth.head@hsf.com), counsel.

10/3/22: In further moves to pressure Russia to reconsider its destructive advance through Ukraine the UK has imposed blocks on insurance and reinsurance provision for the country’s aviation and space goods; barred Russian aircraft from UK airspace; and added seven oligarchs, including Roman Abramovich, to the sanctions list. The EU, meanwhile, has designated another 160 individuals, limited deposits by Russian nationals to €100,000 per credit institution, and sought to restrict finance and trade dealings with Belarus. Susannah Cogman and Elizabeth Head of Herbert Smith Freehills work through the detail of the measures.