EU modifies sanctions to enable plane owners to sell to Russia

by SpeedLux
European Union EU

An amendment to European Union sanctions last week formed a potential path for some aircraft financiers to sell jets held in Russia to the airlines currently operating them without permission. 

The measure published on April 8, will permit EU governments to grant permission for entities in their states to keep getting payments from Russian companies on so-called financial leases signed before February 26. Ownership of the plane can be shifted once the lease is paid off.

“the sale, supply, transfer or export of goods and technology referred to in paragraph 1 or the provision of related technical or financial assistance is intended for aviation or the space industry, unless such sale, supply, transfer or export or the provision of related technical or financial assistance is allowed under paragraph 4(b); or,” the amendment noted.

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