The UK prohibits its companies from exporting everything related to the aviation and space industry to Russia. In particular, any insurance activity in these industries is impossible.
UK imposes new sanctions against Russia
On March 9, the Secretary of the Ministry of Foreign Affairs, Liz Truss, announced that the UK was imposing new sanctions against Russia concerning the aerospace industry. They are fully consistent with the common European restrictions imposed in response to the aggression against Ukraine.
Cooperation with the aggressor country in the aerospace industry is prohibited. And it’s not just planes and their maintenance. Individual units and parts that were supplied to the Russian space industry are also subject to sanctions. Furthermore, insurance of all Russian flying objects is prohibited.
The last may seem like a trifle, but it can greatly affect Russian civil aviation. All planes and air transportation in the world are insured. And now even those insurance policies that were concluded by the aggressor country are not valid. And countries that have not imposed sanctions will not accept Aeroflot and other companies’ planes without them.
Russian Space Industry
Oddly enough, space launches are also insured, even in Russia. And, as we can understand from the statements of the British Ministry, the aggressor country used to insure its spacecraft in their country. These financial guarantees allow not to be afraid that all the money spent on the construction of the rocket will burn with it in the event of an accident.
But now Russia does not have such an option. It is on par with North Korea and Iran in this regard. Rocket launches will be more expensive to the aggressor country. In addition, the replacement of British components will require additional investments. And the state, which is under severe sanctions, cannot afford it. The Russian economy is already falling apart. It seems that in the near future the country, where April 12 is a big holiday, will have other things to worry about.
According to Spacenews.com