Question to the Department for International Trade:

To ask the Secretary of State for International Trade, pursuant to the Answer of 7 March 2022 to Question 131131, what latest assessment she has made of the ability of UK exporters to complete the delivery of contracts to buyers in the Russian Federation in those outstanding cases where their contract bonds are underwritten by UK Export Finance.

UK Export Finance (UKEF) is closely monitoring the impact of the current situation on transactions that it has supported in the Russian Federation.

UKEF follows robust due diligence processes before providing support for any transaction, including appropriate assessment of attendant risks. UKEF charges a risk-based premium to companies for its support, and has a robust recovery process in place to protect the taxpayer and offset potential losses.