Russian President Vladimir Putin has ordered his government to prepare retaliatory sanctions against the West.
It has been reported in one Russian newspaper that Moscow may restrict or ban European airlines from flying over Siberia- forcing them to re-route flights to Asia at a substantial cost.
But the rumours immediately hurt the shares of Russian carrier Aeroflot, which currently benefits from fees paid by foreign operators who use the flightpath.
It comes after a new raft of EU sanctions targeted Russian banks, defence firms, and a low cost airline owned by Aeroflot. The subsidiary has since had to suspend all its flights.