Russia has implemented a new law making it harder for foreign aircraft leasing companies to repossess their planes in the face of Western sanctions.
The new law will allow foreign jets to be registered in Russia "to ensure the uninterrupted functioning of activities in the field of civil aviation".
Russian airlines have 515 jets leased from abroad worth about $10bn (£7.7bn).
Foreign owners have until 28 March to get them back from Russian companies before sanctions kick in.
The move comes after Bermuda and Ireland, where nearly all foreign-leased planes operating in Russia are registered, said they were suspending certificates of airworthiness for those aircraft.
The measure, signed into law by President Vladimir Putin, could circumvent that by bringing registration and certification of safety within Russia's borders and use the foreign aircraft to fly domestic routes across the vast country.
Since the invasion of Ukraine on 24 February, Western companies have been terminating leases and asking for planes to be returned.
The majority of international air routes out of Russia are not being flown and many countries, including the UK, have banned Russia's national airline Aeroflot from flying in their airspace.
Hundreds of foreign-owned aircraft remain in Russia. To comply with sanctions, leasing companies are trying to get them back. But that is looking highly unlikely.
If Russia does hang onto these aircraft - collectively worth billions of dollars - they will be able to continue flying, in Russia and a handful of former Soviet republics at least.
But it's one thing to steal aircraft, it's quite another to keep them operating for any length of time.
Airbus and Boeing cannot supply spare parts, so when something needs to be replaced it will have to be taken from another plane, or be manufactured by a third party.
That has serious safety implications. It will also make it virtually impossible to insure those planes outside Russia. Servicing is also a concern - many aircraft are flown elsewhere for maintenance.
And when the crisis is over there will be a huge bill to pay.
If aircraft are not maintained properly, their value will plummet. So even if lessors get them back, they will demand compensation.
International aviation is an international business, and you have to play by the rules.
Russia could decide to thumb its nose at the rest of the world now. But one day it will want to rejoin the club - and the conditions for rejoining could be very harsh.

Ment

This is one chance , Russia really played into the WEST hands. US with Fisher net, Russia the fish!

Putin has put Russia into a very big mess politically and economically that will take decades to recover.
If this war escalates further, then Russia will be reduced to nothing and stripped of world power status.

US and European block will continue to dominate the political and economic scene for the next 50 years.

tolue42:
This is one chance , Russia really played into the WEST hands. US with Fisher net, Russia the fish!

Go check map of Russia mother Russia is a super power continent.

Kingsnairaland:


Go check map of Russia mother Russia is a super power continent.

Guess you just know about map today, don't you see my post on Sunday showing how big Russia is on the map?

In case you don't know, most of those big spaces of Russia on the map are inhabitable to humans, they are just full of ICE(at least 65%), just like Antarctica...
So boy, read more...

Bonus for you: the largest countries top 5 in the world
1. Russia
2. Canada
3. USA
4. China
5. Brazil.

JudasNaKarrot:

US and European block will continue to dominate the political and economic scene for the next 50 years.

What I told a man the other day. The West will continue to dominate in even 200 years to come.

Nahh this can't be true.

According to Putin's fanboys, this is "Western Propaganda".

BTW, Putin seems desperate, nigga trying to rescue a sinking ship!!

World power that don't have commercial planes

And as usual the west has nothing to lose? You think the world is blind? Apart from Western Europe, you think any nation and its populace would be willing to put solid investments in the west knowing its not safe and your private investments can be seized simply because your government is at odd with the west. You also think both sides will not come to negotiations to return to normalcy after the war. During the Obama administration, the US flew dollars in planes to Iran to pay debts hitherto unpaid due to sanctions before jcpoa could be signed. You also think the sanctions are not hurting the west? Do you have an idea the level of inflation in Europe as a result of these sanctions? My dear, they both hold each other at gun point, but while western cooperations have Chinese equivalent, those leaving the Russian market is one less market. Russian is a consumer market. E.g. if apple closes shop, xiaomi and huawei takes over.