Russia has spent at least 460 billion rubles ($5.6 billion) to buy out foreign-owned aircraft leased to its domestic airlines, according to estimates by the Russian outlet Kommersant. Nearly 300 billion rubles of that sum came from the country’s National Wealth Fund.

Aeroflot CEO Sergey Aleksandrovsky revealed that the most recent insurance settlement agreements for 36 aircraft were valued at about $1.1 billion. So far, settlements have been completed for 17 planes.

Since 2022, Russia has spent no less than 420 billion rubles to re-register 189 aircraft previously owned by Western leasing companies into Russian ownership. Once Aeroflot finalizes agreements for an additional 19 planes, the total will rise to 464 billion rubles for 208 aircraft.

Beyond Aeroflot, no new settlements are expected soon. Other Russian airlines are waiting for government support to cover costs, but Moscow is facing a sharp increase in its federal budget deficit due to war spending in Ukraine and falling oil prices.