Popova S.M. Luxembourg’s SpaceResources.lu initiative and possible consequences for regulation of the global market on space exploration

Abstract: The object of this research is the changes in the national space policy of countries and regulation of the global market of space exploration. The importance of monitoring these changes is justiied by the possibility of emergence of unexpected events (“black swan”), capable of bringing changes to the current rules of the game, disruption in the balance of the competitive positions and reformation of the global space economy upon new terms. The subject of this research is the development of the Luxembourg initiative SpaceResources.lu associated with creation favorable “ecosystem” within the framework of state-private partnership for involvement into national economy companies that specialize in cutting-edge special exploration. Special attention is given to the analysis of Luxembourg law from July 20, 2017 on exploration and use of space resources, which represents the irst European bill that establishes on the national level guarantees of rights to ownership of resources extracted from space. A conclusion is made that emergence of national legislative bills that violate the current rules of the game on the space exploration market are to a certain extent unavoidable, since the tempo of inter-national lawmaking lags behind the demand of real sector of space economy for new legal solutions that would promote its successful development.

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