London’s High Court has mandated that Volga-Dnepr Logistics, a Dutch division of the Russian cargo group, pay £134,000 (€159,000) to AerCap’s English subsidiary.
This ruling relates to a $203 million dispute over eight aircraft lost after Russia’s invasion of Ukraine.
The court rejected Volga-Dnepr’s request to delay the payment deadline, insisting that the funds be paid within 14 days. Volga-Dnepr was concerned that if it makes any payments, the company could be in breach of Western sanctions
A previous request by Volga-Dnepr to alter the payment order was denied by the court, affirming that the order did not violate sanctions against Russia.
Despite concerns regarding sanctions, the court ruled that there were no valid reasons to exempt Volga-Dnepr from making the payments to Celestial Aviation.
