The CMU approved the list of military and political risks, as well as the conditions and procedure for insurance of military and political risks during the activities of the Export Credit Agency (ECA).

Military risks include the following insurance risks that are widespread in international practice and may arise on the territory of Ukraine: military conflict, including war or armed conflict, armed aggression, hostilities, mass riots, violent change or overthrow of the constitutional order or seizure of state power, terrorist acts or sabotage, occupation, annexation.

The following insurance risks were classified as political risks: forced alienation of property/seizure of property of a business entity by the state authorities of Ukraine, unjustified revocation of a license by the market regulator, or forced termination of the business entity's activities by state authorities, which was established by a court decision that entered into force (except for cases when the termination of activity is caused by the failure of the business entity to comply with the requirements of the law).

This also includes the introduction by the state of bans (payment embargoes, moratoriums) on the implementation of settlements, the impossibility of currency conversion or currency transfer abroad by a business entity, except for cases provided for by law.

ECA will be able to insure and reinsure against military or political risks investment loans of Ukrainian banks for Ukrainian exporters, as well as direct investments.

More details: http://surl.li/slgkg