How the FAA’s Sanctions on Russia Really Work

Who’s on the no-fly list? How hard is it to repossess an aircraft?

Friday, March 11, 2022 at 10:06 AM ET

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One expert says the process of repossessing a Russian aircraft in the midst of this conflict isn't as easy as it might sound. [File Photo: Shutterstock]

Key Takeaways:

The U.S. government implemented an airspace ban on aircraft owned or leased by Russian citizens, which the FAA later clarified to specifically target sanctioned individuals and entities, not average Russian citizens.
Repossessing or selling aircraft belonging to sanctioned Russian oligarchs is complicated by frozen financial assets and restrictions on banking transactions, making the process lengthy.
Concerns exist that loopholes in the FAA's aircraft registry regarding "beneficial ownership" could allow sanctioned individuals to bypass flight restrictions and other legal measures.

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Since Russia invaded Ukraine a couple of weeks ago, governments have done everything in their power to severely limit Russia and most of its influential citizens from doing business in the world. The FAA has also found ways to bring pressure to bear by limiting the travel plans of specific Russian individuals of influence and who could appeal to the Russian president.

On March 2, the U.S. government barred all Russian citizens who own or lease aircraft in the United States from operating them in the country’s airspace.