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NBU Calls on Nuclear Risk Insurers to Halt Cooperation with russia and belarus and to Support Ukraine

NBU Calls on Nuclear Risk Insurers to Halt Cooperation with russia and belarus and to Support Ukraine

The NBU has sent a letter to international Nuclear Risk Insurers (NRI) and the global Nuclear Insurance Pool (NIP) asking them to terminate all business relationships with the nuclear insurance pools and insurance companies based in russia and belarus, russia’s accomplice in war crimes.

At the same time, the NBU expressed hope that full-fledged cooperation between the global NRI and the Ukrainian NIP will continue. 

The current situation in Ukraine has made it significantly harder to reinsure nuclear risks. The NPPs based in Chernobyl and Zaporizhzhia are temporarily under russia’s control. The invaders pose a threat to the research facility Neutron Source and the nuclear storage facility of the Kharkiv Institute of Physics and Technology, which have been taking heavy enemy fire since the war broke out. Unfortunately, nuclear risks may surge in the short run. It therefore is vital that insurers cover the reinsurance risks associated with all nuclear facilities based in Ukraine. This will give these facilities the financial protection they urgently need today, the NBU said in its letter.

“With the tragedies of Chernobyl and Fukushima-1 still fresh in our memory, the international community must not ignore russia’s criminal acts against Ukraine’s nuclear facilities. The aggressor is literally exposing all mankind to the danger of a nuclear meltdown. We urge you to ramp up international pressure on russia and belarus by saying a firm “no” to deliberate threats by these aggressor countries to damage civilian nuclear facilities in Ukraine,” NBU Governor Kyrylo Shevchenko said in a comment.

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Letter of the National Bank to the Association of Nuclear Risk Insurers and the Nuclear Insurance Pool
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