Russia may refuse to return leased planes, pay in rubles: Report

The Russian government plans to order domestic airlines to pay for leased aircraft in roubles and bar them from returning planes to foreign companies if leases are cancelled, according to a draft law published on Thursday. 

Western sanctions introduced in response to Russia’s invasion of Ukraine have forced Russian carriers to cancel many international flights for fear that their aircraft will be seized by foreign lessors or banks. 

The sanctions have also frozen much of Russia’s foreign reserves and forced authorities to look for ways to limit foreign currency outflows.

Under a law drafted by the transport ministry, Russian airlines will pay their leases in rubles throughout 2022. If a foreign lessor terminates the agreement, a special government commission is to decide whether the aircraft can be returned or rule that the aircraft must stay in Russia.

US lawmakers advance Budget with $14 billion for Ukraine (AP)

The House approved a massive spending bill on Wednesday that would rush $13.6 billion in US aid to battered Ukraine and its European allies, after top Democrats were forced to abruptly drop their plan to include fresh funds to battle Covid-19. 

Passage of the Ukraine aid and the $1.5 trillion government-wide legislation carrying it let both parties lay claim to election-year victories for their priorities. 

Democrats won treasured domestic initiatives, Republicans achieved defence boosts, and both got their imprint on funds to counter Russia's invasion of its western neighbour.