Leaseurope Expels Russia

Leaseurope, an umbrella federation of national associations of European leasing and automotive rental companies, has expelled Russia.

The National Bank of Ukraine announced this in a statement, the Ukrainian News Agency reports.

The National Bank of Ukraine welcomed Leaseurope’s decision to expel Russia.

In particular, the United Leasing Association of Russia, which represents Russia in Leaseurope, has been expelled.

At the same time, it is noted that the Ukrainian leasing market needs the support of Leaseurope.

For Ukrainian lessors that have difficulty conducting their businesses in Ukraine during the war, it is important for them to be able to open their representative offices, branches, or subsidiaries in EU countries under a simplified procedure and continue to operate, at least abroad.

In this regard, Ukrainian lessors and the National Bank of Ukraine are hoping for Leaseurope's assistance in obtaining financing from foreign banks and the necessary legal assistance.

As Ukrainian News Agency earlier reported, Leaseurope is an umbrella federation representing 44 national member associations in 32 countries, covering roughly 92% of the European leasing and automotive rental market.

The Ukrainian Association of Lessors is a member of Leaseurope.