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Russian Air Cargo Boss Resigns After Being Sanctioned by the UK

One of the latest Russian businessmen to be hit with sanctions for supporting Kremlin is the boss of an aviation company that has allegedly helped the Russian government with the transport of critical goods. Following the sanctions, Alexey Isaykin’s next move was to resign as a director of one of the UK-based branches of his second aviation company.
Isaykin has resigned as a director of the UK-based CargoLogicAir 6 photos
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Isaykin made it on the Forbes list of the 200 richest Russians in 2014, with an estimated fortune of over $500 million. He controls both the Volga-Dnepr Group in Russia, and the UK-registered Cargo Logic Holding, a parent company to CargoLogicAir (CLA) in the UK, and CargoLogic in Germany.

Back in March, CargoLogic was forbidden to operate in the EU airspace, despite the operator stating that it was a German company managed by an independent German team. “We are and remain a completely independent and German company,” it was stated at the time. According to Air Cargo News, the small cargo operator has since then entered insolvency, being unable to function throughout this entire period.

Its UK-based sister company reportedly hasn’t been operating either, with one of its freighters stuck at the Frankfurt Hahn Airport and another one apparently stored at the Pinal Air Park in the U.S.

The same media source reports that Isaykin has resigned as a director of CLA after having recently been included on the UK’s sanctions list. Documents show that he is still the director of both Volga-Dnepr and Cargo Logic Holding.

Even though the small air cargo operators in Germany and in the UK were the ones that suffered the consequences, Isakyn’s sanctions were mostly connected to the operations of Volga-Dnepr. According to an official statement of the British government, the Russian air cargo operator was used by Kremlin “to create air bridges” and transport essential goods despite the current airspace ban against Russia.

 
 
 
 
 

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