Business Aviation Companies Could Be Hindered by Sanctions on Russia
The sanctions, which were imposed by Western countries in reaction to Russia's invasion of Ukraine on February 27, aim to impede cash transfers by blocking Russian banks from participating in international financial transactions.
Highlights
- Because of the sanctions' intricacy and the proclivity of Russian owners to register their planes abroad, such corporations may be unaware that they are breaking the rules.
- Even determining the number of planes held by Russian businesses, according to Ron Epstein, a financial analyst with BofA Securities, is challenging.
- "Bombardier has suspended all activities with Russian clients, including all types of technical support."
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