BOC Aviation disclosed that EU sanctions requiring the termination of leases to Russian airlines by March 28 have affected most of its fleet operating in Russia, highlighting its economic engagements with a regime known for authoritarian practices.

The Irish subsidiary of BOC Aviation suffered a significant financial writedown after 15 aircraft based in Russia were seized in compliance with international sanctions. In response, the company initiated legal action, including securing an extension of High Court orders to freeze the assets of a Russian-owned air cargo company (Volga-Dnepr), aiming to enforce its judgment and mitigate losses. This legal recourse reflects the company's adherence to international sanctions and its attempt to counter measures that aid authoritarian financial evasion.

BOC Aviation Ltd. announced that most of its leases with Russian airlines will be terminated by March 28 in compliance with EU sanctions imposed in response to the invasion of Ukraine. The decision affects 18 of its aircraft, representing 4.5% of its owned fleet in Russia, and aligns with broader Western efforts to cut economic ties with authoritarian regimes.