News & Analysis as of

Aviation Industry Economic Sanctions

Pillsbury Winthrop Shaw Pittman LLP

What Lessors Need to Know: English High Court Rules on Russian Aircraft Losses

The Judgment addressed joined insurance claims brought by major aircraft lessors whose aircraft and engines were stranded in Russia following the imposition of sweeping Western sanctions and Russian government measures which...more

K&L Gates LLP

European Union Adopts 16th Package of Sanctions Against Russia, Further Impacting the Aviation Industry

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On 24 February 2025, the European Union adopted the 16th Russia sanctions package. The new measures amending the framework Council Regulation (EU) 833/2014 are found and included in Council Regulation (EU) 2025/395. They...more

Conyers

Navigating International Sanctions: Impact of the Ukraine War on Bermuda

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When Russia invaded Ukraine on 22 February 2022 most Bermudian residents did not think it would have much impact to the island. However as both an overseas territory of the United Kingdom and as an international finance...more

Vedder Price

Global Transportation Finance Newsletter: December 2024

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Court Cautious on Sanctions and Letters of Credit - The Court of Appeal has delivered a decision in Celestial Aviation Services Ltd. v. UniCredit Bank GmbH, London Branch1 in relation to whether UniCredit could withhold...more

Pillsbury Winthrop Shaw Pittman LLP

New UK Trade Sanctions Enforcement Body Goes Live October 10, 2024

New UK enforcement body goes live and new powers granted to existing body, regulating those doing business in the UK. UK trade sanctions enforcement risks are set to increase on October 10, 2024, as two government agencies...more

Walkers

EU sanctions update: Guidance published on the 'No Russia Clause'

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The EU has continued to tighten economic sanctions against Russia in recent months with the introduction of the 12th sanctions package on 18 December 2023 and the 13th sanctions package on 24 February 2024. Of particular...more

Vinson & Elkins LLP

Impact of the EU’s Latest Sanctions against Russia on Aircraft Owners

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On December 18, 2023, the European Union (EU) published its 12th package of sanctions targeting Russia via Regulation (EU) 2023/2878 and Regulation (EU) 2023/2875, which amend Regulation (EU) 833/2014 and Regulation (EU)...more

Vinson & Elkins LLP

S.D.N.Y. Awards Aircraft Owner Over $406 Million for Aircraft and Engines Trapped in Russia

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U.S. companies that found their assets caught up in Russia at the start of the Russia/Ukraine conflict may find relief on paper from U.S. courts. But it remains to be seen whether they can recover in practice....more

Pillsbury - Global Trade & Sanctions Law

Russia Sanctions Year in Review: Impact on Aviation Sector

This post marks the third entry in our Year-in-Review series. For prior posts, click here. Many of the first measures that the United States, European Union and United Kingdom collectively took against Russia in 2022 related...more

Bass, Berry & Sims PLC

Russia, Ukraine: Update as of June 1

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes new U.S. sanctions and...more

White & Case LLP

US Imposes Additional Investment Restrictions, Other Sanctions, and Export Controls on Russia

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Authored by our Global Sanctions Team In early April 2022, the US imposed additional sanctions and export-controls restrictions on Russia. The restrictions include a new Executive Order prohibiting new investment in the...more

Vinson & Elkins LLP

Key Questions About Aircraft In Russia

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Since February 24, 2022, Russia’s invasion of Ukraine has led to unimaginable human suffering, a growing refugee crisis and a rising death toll. The invasion sparked a global response as governments moved to sanction the...more

The Volkov Law Group

United States Announces Additional Sanctions Against Russia and Belarus

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As announced during his State of the Union, President Biden and U.S. Allies and partners, announced additional sanctions against Russia and Belarus.  In recognition of the impact of the sanctions and export controls on the...more

Morgan Lewis

Update: European Union Agrees on Further Sanctions on Russia

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The European Union’s 25 February wave of sanctions build on, and significantly expand, its existing sanctions on Russia, imposing wide-ranging restrictions on the Russian economy—including in respect of Russia’s access to...more

White & Case LLP

UK, EU and US aviation industry sanctions

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Following the events in Ukraine, various measures have been put in place by the EU, the UK and the US that are expected to have a considerable impact on the aviation and aircraft financing industry. Below we give a round-up...more

American Conference Institute (ACI)

[Webinar] Virtual Berlin Forum on Global Economic Sanctions - September 14th - 16th, 1:00 pm - 5:30 pm CEST

C5's Virtual 14th Berlin Forum on Global Economic Sanctions is next week. Navigating the rapidly changing sanctions landscape and staying compliant is hard. Don’t miss this unique opportunity to hear from the most experienced...more

Vedder Price

Guaranty Enforcement in a Time of Rent Deferrals and Other Economic Accommodations

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Due to the ongoing COVID-19 pandemic, lessees and lessors across many industries are attempting to ease economic tensions by agreeing to certain accommodations in respect of lessees’ obligations. In the aviation industry,...more

Vedder Price

Global Transportation Finance Newsletter - June 2020

Vedder Price on

Can Airlines Seek Relief under EETC Financing? Due to the ongoing COVID-19 pandemic and the resulting economic malaise, lenders and investors are seeing a flood of requests from borrowers and issuers for relief on debt...more

BCLP

Engine Leasing, the Fundamentals - Sanctions and Key Conclusions

BCLP on

In the previous articles in our series Engine Leasing, the Fundamentals,  BCLP’s global aviation team has discussed the attraction of engine leasing and the key economic drivers. It has discussed the legal risks associated...more

The Volkov Law Group

Swiss Telecomm Company Pays $7.8 Million to Settle OFAC Sanctions Violations

The Volkov Law Group on

OFAC continues to aggressively enforce its sanctions programs.  In its latest enforcement action, OFAC agreed with Société Internationale de Télécommunications Aéronautiques SCRL (“SITA”), a Swiss telecom company, to an...more

Vedder Price

Global Transportation Finance Newsletter - December 2019

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Apollo Settles Alleged Sanctions Violations: Aircraft Lessors Pay Attention - The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has broad delegated authority to administer and enforce the...more

Vedder Price

Apollo Settles Alleged Sanctions Violations: Aircraft Lessors Pay Attention

Vedder Price on

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has broad delegated authority to administer and enforce the sanctions laws and related sanctions programs of the United States. As a key...more

The Volkov Law Group

Apollo Aviation Group Pays $210k to OFAC for Violations of Sudanese Sanctions Program

The Volkov Law Group on

Apollo Aviation Group, now Carlyle Aviation Partners, agreed to pay OFAC $210,600 for 12 violations of the Sudanese Sanctions Program.  Carlyle acquired Apollo in December 2018, and Carlyle was not involved in the...more

Cozen O'Connor

Caveat Lessor: United States Fines Aircraft Lessor for Actions of Sublessee

Cozen O'Connor on

It will hardly come as a surprise to readers that air transportation and the trade in aircraft and parts is inherently international. Thus, participants in these industries have to keep an unblinking eye on the increasingly...more

Holland & Hart LLP

OFAC: Sanctions Compliance Provisions in Lease Agreements Alone May Be Insufficient

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On November 7, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced in an Enforcement Information that Apollo Aviation Group, LLC (Apollo), a Florida-based commercial aviation...more

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