Russia has requested from the United States the possibility of using billions of dollars in frozen state assets to purchase Boeing airplanes once a ceasefire is reached in Ukraine. The request, while not a requirement for accepting a ceasefire, involves funds that are currently frozen and cannot be used to acquire airplanes without a cessation of the conflict, a source in Moscow disclosed on condition of anonymity.
Russia's National Welfare Fund allocated 300 billion rubles (3.7 billion dollars) for the purchase of aircraft from international leasing companies to settle outstanding claims. According to RBC, earlier last year, Russian airlines had acquired 165 Boeing and Airbus aircraft, accounting for about 40% of Russia's total fleet.
Although Russia has not explicitly linked the cessation of hostilities in Ukraine with the lifting of sanctions, high-ranking Russian officials have expressed that a peace agreement would require the elimination of Western punitive measures. First Deputy Prime Minister Denis Manturov stated in February Moscow's willingness to resume cooperation with Boeing, a major buyer of Russian titanium before the invasion of Ukraine.
Negotiations for a ceasefire have faced obstacles since Putin demanded the suspension of all foreign arms shipments as a prerequisite. The United States has not publicly responded to this proposal. Boeing halted its operations in Russia, including a prominent engineering center, after the invasion of Ukraine in February 2022.
The possibility of resuming Boeing's sales to Russia is being considered, as the American aircraft manufacturer faces pressure in other markets due to global trade conflicts. Sanctions have involved the freezing of about 280 billion dollars in Russian central bank reserves, approximately two-thirds of which are blocked in the European Union.
Russia has publicly requested the United States to lift the sanctions imposed on its national airline Aeroflot PJSC and allow the resumption of direct flights between the two countries. Boeing has chosen not to comment on this matter. Boeing's shares slightly fell after the Russian request became known, registering a decline of 0.3% before the opening of the stock market in the United States.
It is estimated that there are around 5 billion dollars in Russian assets in the United States. On the other hand, China has instructed its airlines to stop accepting airplanes manufactured in the United States, while Ryanair Holdings Plc mentioned the possibility of delaying Boeing deliveries at the end of the year if they are affected by tariffs. Aeroflot and other Russian airlines have been barred from accessing the airspace of the United States and the EU, as well as from acquiring Boeing and Airbus SE airplanes due to the imposed sanctions.
With a fleet that mostly depends on foreign aircraft, Russian airlines have been forced to seek alternatives for obtaining essential parts and services, which could compromise safety standards. Following the start of the invasion of Ukraine, Russia confiscated 400 foreign-owned aircraft leased to Russian airlines.
The possibility of acquiring Boeing aircraft could be part of a gradual lifting of sanctions in the event of a ceasefire. However, the United States has communicated that it will not discuss economic commitments until a ceasefire is reached. Tensions between Russia and Ukraine persist despite previous agreements, complicating progress in ceasefire negotiations.
In an attempt to revive talks, Putin sent his representative Kirill Dmitriev to Washington and held meetings with Trump’s special envoy, Steve Witkoff. The State Department has not issued comments on this. Kremlin spokesman Dmitry Peskov did not immediately respond to requests for comments.
