Hermitage Capital Management CEO discusses if Russia is about to plunge into a financial crisis.
President Biden will announce a ban on all Russian aircraft in American airspace during the State of the Union on Tuesday evening, a source familiar with the plans confirmed to Fox News.
The move comes after Europe and Canada closed their airspace to Russian airlines over the weekend as part of widening sanctions imposed on the country after its invasion of Ukraine.
European Commission President Ursula von der Leyen said the European Union is banning all Russian airlines as well as “the private jets of oligarchs.”
“There is no room in Dutch airspace for a regime that applies unnecessary and brutal violence,” Mark Harbers, the Minister of Infrastructure for the Netherlands, tweeted Saturday.
An Aeroflot – Russian Airlines Airbus A320 aircraft as seen on final approach landing on the runway at Amsterdam Schiphol Airport from Moscow. (Photo by Nicolas Economou/NurPhoto via Getty Images)
Canadian Minister of Transport Omar Alghabra said Saturday that the ban was put into place to “hold Russia accountable for its unprovoked attacks against Ukraine.”
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The White House said Monday that it was still making a decision about a ban on Russian aircraft.
“There are a lot of flights that U.S. airlines fly over Russia to go to Asia and other parts of the world and we factor in a range of factors,” White House Press Secretary Jen Psaki said Monday.
Aeroflot Russian Airlines Airbus A320 civil jet aircrafts at Moscow-Sheremetyevo International Airport. (Photo by Leonid Faerberg/SOPA Images/LightRocket via Getty Images)
In response to the sanctions, Russia announced that it was banning aircraft from 36 countries, including all of the European Union, from entering their airspace.
American Airlines, Delta Airlines, United Airlines, and others had already announced that they were temporarily suspended flights into Russian airspace.
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Delta also said it was ending its codesharing service with the Russian airline Aeroflot, which allowed customers to book flights on both airlines.
The ban on Russian aircraft adds to a growing list of crippling sanctions that threaten to economically isolate Russia.
The Associated Press contributed to this report.
