{"id":27260,"date":"2022-03-03T20:43:47","date_gmt":"2022-03-03T15:13:47","guid":{"rendered":"https:\/\/tradebrains.in\/features\/uk-russia-insurance-sanctions\/"},"modified":"2022-03-03T21:52:12","modified_gmt":"2022-03-03T16:22:12","slug":"uk-russia-insurance-sanctions","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/uk-russia-insurance-sanctions\/","title":{"rendered":"UK extends Russian sanctions to insurance sector"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1887587120\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>London, Mar 3 (PTI) 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 announced on Thursday as further sanctions in response to the attacks on Ukraine.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-865759173\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>UK Chancellor Rishi Sunak said the latest measures will limit the benefits Russian entities receive from their access to the global insurance and reinsurance market.<\/p>\n<p>\u201cRussian companies in the aviation or space industry will now be prevented from making use of UK-based insurance or reinsurance services directly or indirectly. This measure will severely limit their access to the global insurance and reinsurance market,\u201d he said.<\/p>\n<p>Through Lloyd\u2019s and the London market, the UK describes itself as a world leader in these sectors of the global insurance market. In taking such action, the UK is demonstrating its commitment to apply severe economic sanctions in response to Russia\u2019s invasion of Ukraine, the UK Treasury department said.<\/p><div class=\"trade-content_5\" id=\"trade-2328824002\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The UK government said it will bring in legislation to prohibit UK based insurance and reinsurance providers from undertaking financial transactions connected with a Russian entity or for use in Russia.<\/p>\n<p>&#8220;Coupled with similar actions by the EU, this move further isolates Russia\u2019s economy from the international financial system,&#8221; the Treasury statement notes.<\/p>\n<p>The move came as the London Stock Exchange Group (LSEG) suspended 28 companies linked to Russia from trading as a result of a series of sanctions being imposed by the UK over the past few days.<\/p>\n<p>&#8220;London Stock Exchange Group has suspended trading in 28 Russian-listed securities,&#8221; said LSEG Chief Executive David Schwimmer.<\/p>\n<p>\u201cThis has been based on sanctions and the ability to run an orderly market. Suspensions are driven by those decisions, so if we see any other securities affected by sanctions then similar actions will take place,&#8221; he said.<\/p>\n<p>Companies affected include the state-owned oil titan Gazprom and the country\u2019s largest lender, Sberbank, according to a notice posted by LSEG.<\/p><div class=\"trade-content-10\" id=\"trade-565592187\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Some of Russia\u2019s largest miners, oil companies, and metals giants have also been suspended, including Lukoil, Norilsk Nickel, Polyus, and Rosneft. PTI AK RUP   RUP RUP<\/p>\n<div class=\"trade-after-content\" id=\"trade-140191471\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>London, Mar 3 (PTI) 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 announced on Thursday as further sanctions in response to the attacks on Ukraine. UK Chancellor Rishi Sunak said the latest measures will limit the benefits [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-27260","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK extends Russian sanctions to insurance sector - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/uk-russia-insurance-sanctions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK extends Russian sanctions to insurance sector\" \/>\n<meta property=\"og:description\" content=\"London, Mar 3 (PTI) 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 announced on Thursday as further sanctions in response to the attacks on Ukraine. 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