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Russia since the start of the military invasion of Ukraine, Vedomosti daily reported citing unnamed federal officials.
As followed by bne IntelliNews, since the controversial “gas-for-rubles” policy enforced by the President Vladimir Putin, take-it-or-leave-it payments in rubles for foreign currency obligations is turning into a go-to answer to sanctions in Russia.
Last week Finance Minister Anton Siluanov said that sovereign Eurobonds will also be serviced through Type C ruble accounts in rubles, with the bondholders having the option to convert these into foreign currency.
As followed by bne IntelliNews, Russian airlines are in disarray following the sanctions arising from the Russian military invasion of Ukraine. The air carriers face returning over 500 leased foreign passenger aircraft worth about $20bn to foreign leasing companies. The aircraft continue to be held in Russia despite the sanctions.
Out of 1,367 commercial jets in Russia, about 800 were already listed on the Russian flight maintenance registry. This allows them to operate without foreign certificates on domestic routes to dispute the demands from foreign leasing companies to return the jets and with no maintenance and spare parts provided by Airbus and Boeing.
The jets that are locked inside Russia are still liable for the leasing payments, and reportedly now the largest carriers will pay in rubles. These include national air carrier Aeroflot, its subsidiaries Pobeda and Rossiya, largest private carrier S7, as well as regional airlines such as Urals, Yakutia, Avrora and others.
S7 and Aeroflot representatives have confirmed to Vedomosti that “in accordance with the procedures set by the government” they are preparing to start paying for the leased jets in rubles. Cirium consulting company previously estimated that Airbus and Boeing have about 515 leased jets currently held in Russia.
Analysts surveyed by Vedomosti believe that foreign leasing companies will not be able to cash in the Type C accounts under current sanctions; however, under Russian legislation, the airlines will be considered as having fulfilled their obligations.
9.1.5 Retail sector news
147 RUSSIA Country Report October 2020 www.intellinews.com
Retailers start importing electronics through parallel imports.
Svyaznoy was the first major retailer to confirm the start of electronics imports through parallel imports. He thus added to the