Russia: Overseas Trade
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether his Department has plans to ban UK firms from insuring supplies and products to and from Russia.
Answered by Stephen Doughty
Together with our international partners, we have unleashed the largest and most substantial package of sanctions ever imposed on a major economy. As a result, Russian imports into the UK have fallen by more than 99 percent, and UK exports to Russia are down by more than 75 percent. Many of our trade sanctions on goods include restrictions on the provision of financial services underlying trade to and from Russia. This includes the provision of insurance.
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