Legal experts Daniel Powell and Leigh Crestohl assess the ongoing impact of sanctions against Russia on the aviation industry including lessors, manufacturers and insurers
The sanctions imposed on Russia since the start of the war in Ukraine last year have caused significant disruption to the global aviation industry. Prior to the conflict, Russia was a fertile market in which to enter into lease agreements and partnerships. However, sanctions have now largely brought to a halt these aviation dealings with entities connected to Russia.
UK companies and individuals are prohibited from entering into transactions with Russia to supply aviation equipment, and partnerships with Russian airlines have also been banned. Monies and aviation equipment allocated for transactions between UK and Russian businesses prior to the conflict must therefore now be directed elsewhere.