Russia confiscates 500 planes leased by Western companies

Since the beginning of the Russian-Ukrainian war, several countries have imposed sanctions on Russian civil aviation. Western aircraft leasing companies have ordered Russian airlines to return leased aircraft by 28 March 2022.

In response to the sanctions, President Vladimir Putin signed a decree allowing local airlines to register 500 Airbus and Boeing aircraft owned by European and American lessors in their names.

According to the first estimates, insurers and reinsurers could end up paying about 10 billion USD to compensate the owners of confiscated planes which are now stranded on Russian soil.