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Russia: aircraft rental will be paid in rubles

The Kremlin's decision for leasing companies based in "unfriendly" countries

Russian President Vladimir Putin has recently signed a decree-law to regulate the fulfilment of financial obligations of Russian companies operating in the transport sector, including the aviation sector. Specifically, these are payments to some foreign creditors based in countries "unfriendly" to Moscow, the so-called hostile states that have imposed economic sanctions against Russia. 

The new regulation stipulates that from now on Russian air carriers will pay in rubles the rent of airplanes to foreign leasing companies. At the moment this is a temporary procedure. Already from now the money can be transferred to a foreign leasing company that has an account with a Russian bank. In addition to these payments, Moscow has provided that domestic companies can also pay in rubles for services and "aircraft engines", the document says. A similar model applies to gas exports.

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AVIONEWS - World Aeronautical Press Agency