Russia’s accession to the Montreal Convention may lead to growth of prices at overseas charter flights, Deputy Transport Minister Valery Okulov said on Thursday on the air with Rossiya 24 TV Channel, TASS reported.

"The price hike will most likely affect overseas charter traffic because the Montreal Convention did not cover them. This will require extra expenses of charter airlines to increase the insurance liability level," the official said.

Russia’s participation in the Montreal Convention will not lead to tickets price hike for companies making regular international flights, Okulov said. "These companies are already operating de-facto in accordance with it," he said. The Montreal Convention will become "fully effective" in Russian in fall 2017, Okulov added.

It was reported earlier Russian President Vladimir Putin signed the law on accession to 1999 Montreal Convention. Rules of the Convention imply a significant increase in the amount of damage compensations to passengers and their relatives. Over 130 states participate in the Convention.