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President Vladimir Putin has signed a decree lifting the HMS engineering group, which was previously controlled by the Cyprus-based H.M.S. Technologies Limited, out of interim administration. In another decree, the President authorised RusGazDobycha JSC to acquire shares in HMS Neftemash and Gidromashservice, two companies affiliated with HMS Group that were removed from state administration by the first decree.

Interim administration by the Federal State Property Management Agency (Rosimushchestvo) was imposed on HMS Group (one of the leading CIS producers of pump and compressor equipment) in late 2024. It applied to numerous companies of the group that were often intertwined by mutual ownership, Interfax noted. In particular, shares of HMS Holding JSC were owned by H.M.S. Technologies Limited (Cyprus).

RusGazDobycha was authorised to buy two HMS companies under the Decree on the Application of Special Economic Measures in the Financial and Fuel and Energy Spheres, which prohibits transactions involving shares of Russian legal entities owned by foreign companies in unfriendly countries.

In 2022, Kazankompressormash, a member of HMS Group, reported that Vladimir Lukyanenko, a Russian citizen, held a 34.6% stake in H.M.S. Technologies Limited, which owns almost 100% of HMS Holding JSC. According to Business Online, he is the son of Ukrainian oligarch Vladimir Lukyanenko, which was the possible reason why the group was placed under interim administration by Rosimushchestvo.