STORY: Russia may refuse to return hundreds of airliners rented from foreign firms.

And that could spark new chaos for an industry already battered by years of lockdowns and soaring oil prices.

Russia’s airlines have over 500 jets leased from foreign companies, worth billions of dollars.

But western sanctions mean the leasing firms have been given until March 28 to sever ties with the country's carriers.

That has led to a game of cat and mouse around the world as lessors attempt to repossess the planes.

They’re having limited success, with just a handful seized.

Now a draft law published Thursday (March 10) shows Moscow intends to bar its airlines from returning planes if leases are cancelled.

It will also order them to pay for the leases in roubles.

Industry experts say it all guarantees years of expensive legal disputes.

One told Reuters it would mean a decade of lawsuits.

Aircraft lessors may hope to get insurance payouts if their planes aren’t returned.

But that too appears uncertain, with the aviation insurance market seen struggling to make the multi-billion dollar payouts that would be involved.