Latest Russia Headlines
All the headlines from our Russia Topic Page, ordered by recency.
Aircraft Lessors Begin ‘Vigorous’ Pursuit of Insurance Claims for Seized Jets in Russia
May 11 2022 // Lessors with hundreds of jets stuck in Russia are preparing for what one said would be a “vigorous” pursuit of insurance claims while maintaining discreet contact with some customers after Moscow blocked the...
EU to Weaken Russia Oil Sanctions, but Keeps Plan to Prohibit Insurance of Shipments
May 9 2022 // The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a key shipping provision that will hinder Moscow’s ability to export its...
Russia’s Leading Shipping Firm Sovcomflot Plans to Sell Part of Its Fleet: Report
May 6 2022 // Russia’s leading shipping company Sovcomflot plans to sell part of its fleet, it said on Friday, as it grapples with Western sanctions and seeks to repay outstanding loans. Sovcomflot has faced growing challenges in...
Dubai Aerospace Files Insurance Claims of $1B for Aircraft Stranded in Russia
May 6 2022 // The Middle East’s biggest plane-leasing firm wrote off half-a-billion dollars for aircraft stranded in Russia, after the Kremlin issued a law preventing foreign-owned jets from leaving the country without state...
Russia-Ukraine a ‘Complex’ Situation for Insurance Industry: AIG CEO Zaffino
May 5 2022 // AIG CEO Peter Zaffino during the company’s most recent earnings call provided analysts with some insight regarding insurance implications from Russia’s invasion of Ukraine. “We have not seen a situation...
Western Ship Insurers Terminate Cover for Russia’s Sovcomflot as Sanctions Expand
May 4 2022 // Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company...
EU Seeks to Target Russia’s Global Oil Exports With Insurance, Services Ban
May 4 2022 // The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to...
Lessor Avolon Reports $304M Impairment Over Seized Russian Aircraft
May 4 2022 // Major aircraft lessor Avolon recorded a first-quarter impairment of $304 million to cover the full financial impact of having 10 jets still stuck in Russia following European Union sanctions that forced the termination of...
Pro-Russian Hacking Group Attacks Romanian Websites
May 2 2022 // Romanian government websites and other institutions were the target of a cyber attack Friday morning that the nation’s intelligence agency attributed to a pro-Russian hacking unit. The hacker group known as Killnet...
Russia May Be Forced to Cannibalize Half Its Planes for Spare Parts: Kommersant
Apr 29 2022 // Russia may be forced to ground between half and two-thirds of its commercial aircraft by 2025 in order to cannibalize them for spare parts, Kommersant newspaper reported, citing an unidentified person at the Transport...
EasyJet Cancels Leases on Russia-Owned Jets in Rare Sanctions Anomaly
Apr 29 2022 // EasyJet Plc terminated rental contracts on six Airbus SE jets owned by a Russian state leasing company in a rare example of sanctions depriving a European carrier of aircraft. EasyJet canceled the leases on the A319...
Lloyd’s Insurer Lancashire Sees Manageable Russia-Ukraine Losses
Apr 28 2022 // Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk...
India’s ONGC Struggles to Ship Russian Oil to Asia as Sanctions Bite: Sources
Apr 28 2022 // India’s Oil and Natural Gas Corp. (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia’s Far East, in a growing sign that complex trades involving one of Moscow’s biggest...
Exxon Mobil Declares Force Majeure on Its Russian Sakhalin-1 Operations
Apr 28 2022 // Exxon Mobil Corp. said on Wednesday its Russian unit Exxon Neftegas Ltd. has declared force majeure for its Sakhalin-1 operations due to sanctions on Russia that have made it increasingly difficult to ship crude to...
Air Lease to Write Off Value of 27 Jets Stranded in Russia
Apr 25 2022 // Air Lease Corp. said on Friday it would write off the value of the 27 jets it has remaining in sanctions-hit Russia, a move that is expected to lead to charges of about $802 million. Global aircraft leasing companies have...
Impounded Russian Tanker to Be Released by Greece Amid Confusion Over Sanctions
Apr 22 2022 // A Russian tanker impounded by Greece this week and reportedly carrying Iranian oil will be released amid confusion about sanctions on its owners. “The coast guard has been ordered by the anti-money laundering...
Medical Gear Deliveries to Russia Hit by Sanctions-Related Insurance, Transport Hurdles
Apr 21 2022 // Exports of essential medical devices Russia is dependent upon from the West have been partly restored, reducing the immediate risk of life-threatening shortages after a near-total collapse when the war in Ukraine began, a...
IMF Sees No ‘Bounce Back’ for Russia Economy, Expects More Damage if Sanctions Escalate
Apr 20 2022 // Russia’s economy will not recover anytime soon from sweeping sanctions imposed by Western nations over its war in Ukraine, and could see further damage if those sanctions are expanded to hit energy exports, the new...
Update: Greece Seizes Russian Crude Oil Tanker as Part of EU Sanctions
Apr 19 2022 // Greece has impounded a Russian oil tanker off the island of Evia, the Greek coastguard said on Tuesday, as part of European Union sanctions imposed on Moscow over its invasion of Ukraine. Earlier this month, the EU banned...
EU’s Tweak to Sanctions Allows Some Aircraft Lessors to Sell Stranded Jets to Russia
Apr 15 2022 // An amendment to European Union sanctions last week created a potential path for some aircraft financiers to sell jets held in Russia to the airlines now operating them without permission. The measure, published April 8,...
