Update and guidance on trade – Ukraine, Russia, Belarus

The situation for businesses who operated in, or with clients or customers, in Russia and Belarus, is moving quickly.

All UK, EU and most of wider European airspace is closed to Russian flights. Major shipping lines including Maersk are not taking containers either to or from Russia. Russia-linked ships will not be allowed access to UK ports. Many Russian banks are excluded from the Swift payments system. Further sanctions were announced by the Chancellor of the Exchequer on Monday morning on economic activity underpinned by the Russian Central Bank.

The British Chambers of Commerce have put together a practical guide for trade with Ukraine, Russia and Belarus which will be updated as the situation develops further. Click here to access the guide.

While it remains a moral and commercial decision for UK companies on what actions to take under any contracts with Russian (or Belarussian) customers or suppliers covering goods and services not under sanctions, it will become more difficult for any trade to be conducted within hours much less days.

The Chamber Network is pressing the UK government to produce guidance to UK business in terms of the War in Ukraine. For now, some of you have spoken with us about review of contracts which some member companies have conducted, in particular about any force majeure clauses which may cover war conditions, to cover non-performance of contractual terms while the force majeure conditions apply.

It would be useful to know what requests for information or advice the Chamber Network is experiencing on this and what services are offered to businesses on force majeure clauses (eg. letters or certificates). Please email the BCC policy inbox to let us know any advice or services you provide in this area to businesses.

Last week, the Department for International Trade (DIT) recommend that concerned companies trading with Ukraine and Russia contact the Export Support Service (ESS) on 0300-303-8955.

Read the British Chambers of Commerce’s comments on the conflict here.