Politics
UK bans Aeroflot operations, freezes Rostec assets, high-tech exports Aviacionline
British Prime Minister Boris Johnson announced that from February 25, Russian state-owned airline Aeroflot would be banned from operating in the kingdom's airspace, as part of a package of tough economic sanctions.
Aeroflot received a brand new Airbus A350 this morning, but doubts remain about further deliveries and compliance with existing contracts in the event of escalation of sanctions.
In response to the offensive actions launched this morning by the Russian army on Ukrainian territory, the Prime Minister indicated that around a hundred people, entities and subsidiaries would see their assets frozen. This measure includes and will have serious consequences for Rostec, a state-owned company that includes 700 defense contractors: Rosoboronexport, Russian Helicopters, United Aircraft Corporation and United Engine Corporation, among others, are part of the conglomerate.
At this afternoon's G7 meeting, we agreed to work together to maximize the economic price Putin will pay for his aggression. For our part, the UK is today announcing the largest and toughest set of economic sanctions Russia has ever seen.
Conversely, British companies can no longer export high-tech products to Russia, which will prevent many UK-made products, such as semiconductors and aircraft equipment, from reaching their Russian customers.
Retaliation could seriously disrupt aviation
The UK's decision to ban Russian operations is not limited to Aeroflot: according to the published NOTAM, the ban includes scheduled services owned or chartered by a person linked to or registered in Russia.
If Russia retaliates with a similar measure regarding its airspace, major disruption to trade and freight routes would be inevitable, as the shortest route for UK operators to Asia is through Russian airspace.
Even if long-haul aircraft have the technical capacity to operate larger routes, the additional costs and delays would undermine their economic feasibility.
On the other hand, VSMPO-AVISMA produces 30 percent of the world's titanium, which is widely used in the aerospace industry. While the global aerospace industry has been at a standstill for nearly two years due to both the grounding of the Boeing 737 MAX and the COVID-19 pandemic, allowing manufacturers to maintain a stockpile of materials , if the situation continues for a significant period, in the event of a shortage or price spike. will occur naturally.
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