Latest Russia Headlines
All the headlines from our Russia Topic Page, ordered by recency.
Russia Says 78 Planes Have Been Seized Abroad After International Sanctions: Report
Mar 22 2022 // Seventy-eight Russian aircraft have been seized abroad, the Interfax news agency quoted Transport Minister Vitaly Savelyev as saying on Tuesday, as Moscow grapples with the consequences of international sanctions over...
Biden Sees Risk of Russian Cyberattack on U.S. as Sanctions Bite
Mar 22 2022 // President Joe Biden warned Monday about new indications of possible Russian cyberattacks, pumping up the volume on weeks of growing concern about a possible Kremlin-ordered response to crushing sanctions over the invasion...
Aviation Re/insurers Face Claims as High as $10B From Planes Grounded in Russia
Mar 22 2022 // Insurers and reinsurers could face claims as high as US$10 billion in a worst-case scenario due to the grounding of planes in Russia, Fitch Ratings said. More than 500 planes that are financed or owned by non-Russian...
Financial Market Volatility From Russia-Ukraine War Likely to Affect European Insurers
Mar 22 2022 // The Russia-Ukraine war is more likely to affect the European insurance sector through second-order financial market volatility than through direct effects from sanctions, according to Fitch Ratings. The rating agency...
Western Companies Wrestle With Russia ‘Half-Exits’
Mar 18 2022 // Western companies that maintain a presence in Russia to provide essential goods such as food and medicines are trying to strike a balance between President Vladimir Putin’s government and advocates of Ukraine pulling...
Georgia Insurance Commissioner Urges Insurers to Divest Their Russian Assets
Mar 18 2022 // King The Georgia insurance commissioner has joined his California counterpart in calling on insurers to divest their Russian business interests in the midst of the bloody Russian invasion of Ukraine. “The fact that...
RWI Underwriters Denying, Tightening Coverage Terms in Russia, Ukraine Region
Mar 18 2022 // Broker CAC Specialty said the representations and warranties insurance (RWI) market has tightened significantly in Russia, Ukraine, and other impacted regions with some underwriters outright denying coverage. “For...
Aircraft Insurers Brace for Barrage of Russia Claims in Possibly Biggest Aviation Loss
Mar 18 2022 // Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of...
New Russian Law on Leased Jets Could Help in Claiming Insurance, Air Lease Says
Mar 17 2022 // A new Russian law on leased aircraft showed Moscow could “confiscate” planes and such a move might help it claim insurance, Air Lease Corp. said at a time when leasing firms risk writing off jets stranded in...
As Law Firms Push to Drop Russian Clients, Some Say Not So Fast
Mar 16 2022 // Plaintiffs are decrying potential delays involved in law firms ditching sanctioned clients mid-litigation Leaving clients in court is ultimately up to a judge, and timing matters Several major law firms have said they will...
Munich Re Exits From Russian, Belarusian Business
Mar 16 2022 // Munich Re is joining other insurers, reinsurers and brokers that have withdrawn from business with Russia. Condemning Russia’s attack on Ukraine and supporting the sanctions, Munich Re said it will not renew existing...
Bermuda Suspends Permits for Russian Planes
Mar 16 2022 // Bermuda’s aviation regulator said it is suspending certification of all Russian-operated airplanes registered in the British overseas territory due to international sanctions over the war in Ukraine, in a move...
Russia, Belarus Represent Less Than 1% of Business Transacted by Lloyd’s
Mar 15 2022 // Russia and Belarus represent less than 1% of business transacted by Lloyd’s of London, the commercial insurance market said, adding that it would look to curtail Russian exposure in several of its specialist...
California Commissioner Wants Insurers to Withdraw Russian Financial Support
Mar 14 2022 // California Insurance Commissioner Ricardo Lara on Monday issued a notice to all insurance companies doing business in the state to review their financial holdings and take immediate steps to identify and divest from any...
WTW Is Latest Big Insurance Broker to Withdraw From Russia
Mar 14 2022 // Global insurance broker Willis Towers Watson (WTW) announced on Sunday that it will withdraw from all of its businesses in Russia in response to Russia’s war against Ukraine. The announcement comes after competitor...
Russia Dropped From World’s Top Association of Ship Certifiers as Sanctions Deepen
Mar 14 2022 // The world’s top association of ship certifiers has withdrawn membership from the Russia Maritime Register of Shipping (RS) due to the impact of sanctions on Moscow after its invasion of Ukraine, in another blow to...
Australia, Netherlands Start Legal Proceedings Against Russia for Crash of Flight MH17
Mar 14 2022 // Australia and the Netherlands started legal proceedings against Russia over the downing of Malaysia Airlines Flight MH17, more than seven years after the deadly crash. The move, at the International Civil Aviation...
Swiss Re, Allianz, Other European Financial Services Firms Turn Their Backs on Russia
Mar 14 2022 // Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia. The German insurer and Swiss reinsurer join banks Deutsche, Goldman Sachs and...
Norwegian Ship Certifier DNV Winds Down Russia Business
Mar 11 2022 // Norway’s DNV, one of the world’s top ship certifiers, is winding down its Russia business and reviewing all existing contracts becoming the latest company to cut such services as pressure grows on Moscow after...
Aircraft Lessors Face Legal Quagmire on Russia Jet Repos. Will Insurers Provide Relief?
Mar 11 2022 // Global leasing companies staring at an imminent sanctions deadline to repossess more than 400 jets worth almost $10 billion from Russian airlines have received mostly radio silence as experts warn of legal wrangling that...
