House of Commons · Written Ministerial Statement
UKEF Update
15 March 2022 · Department for International Trade
Proposed by Anne-Marie Trevelyan Con Berwick-upon-Tweed
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- UK Export Finance (UKEF) will continue to provide export cover in Ukraine up to 3.5 billion.
- UKEF has been directed to cease all support for exports to and investments in Russia and Belarus.
- The actions reflect the national interest and the current geopolitical situation.
Issue summary
The statement addresses the continuation of UK Export Finance (UKEF) support for Ukraine amidst Russian aggression while ceasing such support for Russia and Belarus.
Action requested
I have instructed UKEF to continue providing export cover in Ukraine within a market appetite of £3.5 billion, reflecting the national interest despite elevated risks. Additionally, UKEF has been directed to withdraw support for exports to and investments in Russia and Belarus.
Key facts
- UKEF support remains available in Ukraine with an overall market appetite of £3.5 billion.
- UKEF cover for Russia and Belarus has been withdrawn.
- The decision is based on the national interest despite elevated risks due to Russian aggression.