EU Sanctions Tweak Allows Some Plane Owners to Sell to Russia
- Member states can allow certain financial leases to go forward
- Change doesn’t apply to majority of jets on operating leases
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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, will allow EU governments to grant permission for entities in their states to keep receiving payments from Russian companies on so-called financial leases signed before Feb. 26. Ownership of the plane can be transfered once the lease is paid off.