Zelenskyy’s warning on Russian airspace sends Aeroflot shares down more than 5%

On September 2, Ukrainian President Volodymyr Zelenskyy issued a warning to airlines about the dangers of flying through Russian airspace, according to Meduza. Shares of Russia's Aeroflot plummeted more than 5% immediately following Zelenskyy's statement, reaching a low of 30.36 rubles per share, as reported by the Moscow Exchange.

Zelenskyy emphasized that Russian skies were becoming increasingly unsafe for airlines, insurers, and other participants in international air travel. He specifically called on every airline that uses Russian airspace, every insurer, and all those still utilizing key Russian airports to be aware of the escalating risks. Zelenskyy stated that Russian airspace would gradually close due to the war initiated by Russia.

The president reiterated that Ukraine does not desire civilian casualties, hence issuing the warning to other nations regarding the perils associated with flights over Russian territory. In response to Zelenskyy's warning, Russia swiftly reacted. Russian President Vladimir Putin announced that the nation's armed forces had been ordered to prepare and execute significant strikes on Ukraine's energy infrastructure.

Ukraine subsequently responded to Putin's remarks in light of Zelenskyy's warning about Russian airspace.