As part of the coordinated ramp-up in sanctions against Russia announced by various governments during the recent G7 Summit, Canada has now designated low-cost carrier Pobeda (DP, Moscow Sheremetyevo) while the United Kingdom has sanctioned Volga-Dnepr Group.
Ottawa did not provide detailed reasons for including the Aeroflot Group budget airline on its sanctions list but did say that its recent update of the Special Economic Measures (Russia) Regulations act targets "entities in Russia's military-industrial complex that supply key technology and electrical components in support of Russia's efforts. In addition, the sanctions target entities involved in sanctions circumvention that facilitate Russia's access to sanctioned goods".
Pobeda was the only Russian airline included in the list.
The US Office of Foreign Assets Control (OFAC) designated Pobeda on May 1, 2024, for its alleged role in smuggling sanctioned parts into Russia. Parent company Aerolfot Group is also sanctioned in the US and the UK.
The ch-aviation fleets module shows that Pobeda operates forty-two B737-800s. Despite sanctions, Pobeda maintains it will not suspend its international flights.
In turn, Volga-Dnepr Group owns Volga-Dnepr Airlines (VI, Ulyanovsk Vostochny). The Moscow-based holding is co-owned by four individuals: Igor Aksyonov, Valery Gabriel, Sergey Dyachkov, and Vildan Zinurov, each with a 25% stake. The company underwent significant ownership changes after Russia's invasion of Ukraine, which led to the imposition of sanctions against Russian airlines. At that time, Volga-Dnepr Group was owned by a Netherlands-based holding entity, Volga-Dnepr Logistics BV. The company was acquired by its co-founders, Alexey Isaikin and Sergey Shklyanin, in early October 2022. They subsequently transferred Volga-Dnepr Group to its current shareholders - its managers - two weeks later.
Volga-Dnepr Airlines operates nine An-124-100s, one An-124-100-150, and five Il-76TD-90VDs. Only the Ilyushin Design Bureau freighters are currently active.
Volga-Dnepr Group used to be a shareholder in Atran and AirBridgeCargo although currently, both carriers are co-owned by Isaikin and Shklyanin (both with a 75/25 shareholding split). The holding is sanctioned in Canada but not the US.
