Technical assistance

EU clarifies Russia sanctions on aircraft spare parts and technology

As part of a revised set of “maintenance and alignment” sanctions against Russia that the Council of the European Union adopted on July 21, the easing of restrictive measures on spare parts and aircraft technology for the Russian aviation sector.

The value of Aeroflot (SU, Moscow Sheremetyevo) shares rose 5% on the news, outperforming the rest of the market, so that they reached 27.70 rubles RUB (0.4766 USD) on the day of the announcement and 28.80 RUB (0.4954 USD) at the end of July 25.

The series of clarifications and, in most areas, additional sanctions listed in Council Decision (CFSP) 2022/1271 and Council Regulation (EU) 2022/1269 only briefly mention aviation. They now deem it “appropriate” to “allow the sharing of technical assistance with Russia for aviation goods and technology to the extent necessary to safeguard the technical industrial standardization work of the International Civil Aviation Organization ( ICAO)”.

The sanctions are a response to Russia’s continuing war of aggression against Ukraine, and this seventh package of new measures is “designed to strengthen existing economic sanctions against Russia, perfect their implementation and strengthen their effectiveness,” said Josep Borrell, High Representative for Foreign Affairs. and security policy, said in a statement.

Western sanctions initially targeted Russia’s air and aerospace sectors in late February amid international outrage over the invasion of Ukraine, banning the export and sale or transfer of all aircraft, parts and equipment to the country and all related repairs, maintenance and finance. services as well as rental.