Sifchain has raised a proposal that will update the expired Sifchain IBC client on Terra. This will allow Sifchain to re-enable the IBC connection between Terra and Sifchain, which in turn will allow users to import/export their UST & LUNA between the two.
The Sifchain IBC client on Terra has been expired for some time now. The Sifchain team has been hard at work the last few months to get a complete understanding on how to properly re-enable an expired IBC connection. Sifchain has successfully updated the Terra IBC client on the Sifchain side, and in order to fully enable the connection between Terra & Sifchain again, the same action needs to be done on the Terra side. By updating the expired Sifchain IBC client on Terra, the Sifchain team will be able to re-enable imports and exports of UST & LUNA between Sifchain and Terra.
See here for official proposal and to vote: Terra Station