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UKEF Update
15 March 2022
Type
Written Ministerial Statement
Department
Department for International Trade
At a Glance
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- UKEF cover for Russia and Belarus has been withdrawn.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.
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Assessment & feedback
Summary accuracy