Russia Seeks to Buy Boeing Planes Using Frozen Assets

Russia has requested the U.S. allow it to purchase Boeing aircraft using billions of dollars in frozen state assets if a ceasefire is reached in Ukraine, according to sources cited by Bloomberg. Although this request isn’t a precondition for any ongoing agreement, Russia understands that these frozen assets cannot be used to buy planes without a truce. An agreement allowing such purchases could form part of sanctions relief if hostilities cease. ‘The U.S. will not discuss any financial commitments until a ceasefire is achieved,’ said National Security Council spokesperson Brian Huiz. The Kremlin’s representative Dmitry Peskov did not immediately respond to a request for comment. Boeing also declined to comment. American lawmakers estimate there are around $5 billion worth of Russian assets in the U.S., with roughly $280 billion in Russian central bank reserves frozen globally, two-thirds of which are held in the European Union. Russia publicly asked the U.S. to lift sanctions against its flagship airline Aeroflot PJSC and permit direct flights between the two countries. The U.S. hasn’t publicly responded to this proposal. Boeing ceased its Russian operations, including a major engineering center, after Russia’s invasion of Ukraine in February 2022. The potential resumption of Boeing sales to Russia arises as the American aerospace company faces pressure in other markets due to the global trade war initiated by former President Donald Trump. China has instructed its airlines to stop accepting U.S.-made planes, reported Bloomberg News on Tuesday (April 15, 2025), and Ryanair stated it might delay Boeing deliveries later this year if they become subject to tariffs. Aeroflot and other Russian airlines have been excluded from U.S. and EU airspace and from purchasing Boeing and Airbus SE planes, along with spare parts and essential maintenance under sanctions imposed in response to the war. With a fleet largely based on foreign aircraft in a country spanning 11 time zones, Russian airlines initially had to cannibalize parts from their own planes and find alternative ways to source components and maintenance, potentially jeopardizing safety standards. Following the invasion, Russia seized 400 foreign-owned leased planes operating within its airlines. Russia’s National Wealth Fund allocated 300 billion rubles ($3.7 billion) to buy planes from international leasing companies to settle owners’ claims. By early 2024, Russian airlines had purchased 165 Boeing and Airbus planes, approximately 40% of the total Russian fleet, reported RBC citing its calculations. While Russia hasn’t explicitly linked ending its war in Ukraine to relief from U.S. and G7 sanctions, President Vladimir Putin and other top Russian officials have stated that a peace agreement would require lifting Western punitive measures. Deputy Prime Minister Denis Manturov said in February that Moscow is ready to restore cooperation with Boeing, which was a significant buyer of Russian titanium before the invasion of Ukraine. Peace negotiations have stalled as Putin demands an end to all foreign arms deliveries as a prerequisite. Russia and Ukraine have accused each other of violating a more limited agreement to suspend attacks on energy targets for 30 days, while the Kremlin refused to implement a Black Sea truce unless restrictions on one of its largest state banks are lifted. In an effort to revive talks, Putin sent envoy Kirill Dmitriev to Washington earlier this month and met with Trump’s special envoy Steve Witkoff for over four hours of discussions in St. Petersburg last Friday.