Russia Asks US to Unlock Frozen Assets for Boeing Aircraft Purchase After Ukraine Ceasefire

Russia has requested the United States allow it to purchase Boeing Co. aircraft using billions of dollars in frozen Russian state assets once a ceasefire is in place in Ukraine, according to a source familiar with the matter, as per Bloomberg.

While the request is not a formal condition for agreeing to a truce, Russia acknowledges that the use of frozen funds for purchasing the jets is contingent on a ceasefire being established. A potential agreement facilitating the acquisition of Boeing aircraft could be incorporated into the easing of sanctions following a halt to the fighting.

US lawmakers estimate that approximately $5 billion in Russian assets are held within the United States. Globally, the US and its allies have frozen roughly $280 billion in Russian central bank reserves, with the majority held in the European Union.

Russia has previously publicly requested the US to lift sanctions on its flagship airline, Aeroflot PJSC, and to resume direct flights between the two countries.

The prospect of resuming Boeing sales to Russia arises as the US planemaker faces challenges in other markets, particularly amid the global tariff war. Recent reports indicate that China has instructed its airlines to cease accepting US-made aircraft, and Ryanair Holdings Plc has suggested potential delays in Boeing deliveries later this year if they become subject to tariffs.

Due to sanctions imposed in response to the war in Ukraine, Aeroflot and other Russian airlines are currently barred from US and EU airspace and restricted from purchasing Boeing and Airbus SE jets, spare parts, and essential maintenance services.

Russian airlines, heavily reliant on foreign-made aircraft in a country spanning 11 time zones, have been forced to resort to cannibalizing parts and finding alternative sourcing methods for components and servicing, raising concerns about safety standards.

Following the invasion, Russia seized approximately 400 foreign-owned planes that had been leased to its airlines. Russia’s National Wellbeing Fund allocated 300 billion rubles ($3.7 billion) to purchase jets from international leasing companies to settle claims from the owners.

As of early last year, Russian airlines had acquired 165 Boeing and Airbus jets, representing about 40% of the total Russian fleet, according to RBC newswire calculations.

Although Russia has not directly linked halting its war in Ukraine to sanctions relief from the US and its Group of Seven allies, President Vladimir Putin and other senior Russian officials have stated that any peace agreement will require the lifting of Western punitive measures.

First Deputy Prime Minister Denis Manturov stated in February that Moscow was ready to resume cooperation with Boeing, which was a significant purchaser of Russian titanium before the invasion.

Negotiations for a ceasefire have stalled since Putin demanded a halt to all foreign weapons deliveries as a precondition. Russia and Ukraine have accused each other of violating a more limited agreement to suspend attacks on energy targets for 30 days, and the Kremlin has refused to implement a truce in the Black Sea unless restrictions are lifted from one of its biggest state banks.

In a recent effort to revive negotiations, Putin sent his envoy Kirill Dmitriev to Washington earlier this month and met with Trump’s special envoy Steve Witkoff for over four hours of talks in St. Petersburg on Friday.