Putin Allows Several Western Funds to Sell Russian Securities

23 Mar, 2025

Putin Allows Several Western Funds to Sell Russian Securities

The American firm 683 Capital Partners has been granted permission to purchase securities in Russian companies that are currently owned by legal entities from the USA and the UK.

Russian President Vladimir Putin authorised US-based 683 Capital Partners LP to acquire securities in Russian joint-stock companies held by several foreign funds. The relevant directive has been published on the official legal acts portal.

683 Capital Partners will be allowed to purchase securities owned by: Baillie Gifford Overseas Limited (UK investment management firm), Grantham Mayo Van Otterloo & Co. LLC (US investment management firm), Jane Street Global Trading (US-based trader and liquidity provider), Jane Street Europe Limited, Carrhae Capital Long Master Fund (UK investment partnership), Franklin Advisory Services LLC (from the USA, operating in the field of mutual investment funds), Highmark Limited (US health insurance firm), and Harding Loevner LP (US investment company).

On 5 August 2022, Putin signed a decree introducing special economic measures in the financial and energy sectors in response to actions by unfriendly states and organisations. The document prohibited companies from such countries from dealing in securities of Russian strategic enterprises without authorisation from Russian authorities.

Experts interviewed by RBC suggest this document could trigger an exchange of shares in Russian companies owned by non-residents and currently frozen in type C accounts as part of counter-sanctions, for blocked securities abroad.

Putin Allows Several Western Funds to Sell Russian Securities

Related news

Regulator bans sale of four Chinese truck makes in Russia

No official support for a 35% profit tax for foreign businesses that left Russia

46% fewer foreign brands enter Russia in first six months

Retailer X5 stops buying certain Mars products

Finance Ministry reports foreign companies in Russia are applying to increase their charter capital

State Duma plans to ban WhatsApp Messenger

Court freezes 50% of Riga Bread LLC due to unfriendly foreign entities

Authorities to list the companies that left Russia "in a toxic way"

Government relaxes conditions for disallowing foreigner businesses to exercise buyback options

Foreign retailers slow their entry into the Russian market

Burberry extends its Moscow office lease until 2027

Central Bank and Finance Ministry agree conditions for attracting investment from unfriendly countries

Chamber of Commerce proposes amendments to bill on additional tax payments by subsidiaries of foreign holding companies

Jersey court upholds €214 million award against Rusal in favour of former VTB subsidiary

Finance Ministry announces "dozens" of applications from companies leaving Russia

Foreign technology companies move equipment closer to Russia

Vladimir Putin orders consideration of business proposals for the return of foreign companies

South Korean company announces arbitration with Russian shipyard

FIAC discusses foreign companies wishing to return to Russia

New owner of Heineken's Russian business repays debt to Heineken

Mars, which claimed to have stopped investing in Russia, has leased more than 40,000 square metres of warehouse space in New Moscow

Hochland's Russian subsidiary may buy out rival brand Sirtaki

Manturov warns Renault it may not be able to exercise its buyback option

Associations criticise bill on retail store shelf space allocation because foreign producers' interests are infringed

Rasperia sues Raiffeisenbank to prohibit proceedings in the Netherlands

FAS once again revisits bill expanding oversight of transactions involving foreign investors

No official approaches yet by foreign companies looking to return to Russia

Authorities mull idea of restricting foreign cloud services in Russia

State Duma to rework bill denying options for foreign companies' return

State Duma prepares to pass a bill making it hard for foreign companies to return by exercising their options

UAE companies offer to buy Russian UniCredit business

Alcohol Producer Amber Talvis Files Claim Against Former Luxembourg Shareholder

German EOS Drops Plan to Sell Russian Debt Collection Business to Gazprombank

Rosatom files RUB 228 billion claim against Finnish companies Fortum and Outokumpu

Study shows rise in foreign business trademark registration activity

Western businesses consulting lawyers on resuming operations in Russia if US sanctions ease

American Oracle announces continued negotiations over debt buyout in Russia

Deputies propose restricting buyback of shares by foreign companies that exited Russia

Dubai company acquires part of Glencore’s stake in RussNeft

Russian government approves draft of new investment protection agreement with China

Two more foreign companies sell their businesses in Russia

Raiffeisen Bank denies FT report on halting sale of its Russian subsidiary

Foreign companies reconsider staying on the Russian market

General Prosecutor’s Office seeks anti-suit injunction to halt Wintershall arbitration against Russia abroad

RSPP develops proposals for the return of foreign businesses

30% of companies that exited Russia have lost return option rights

Cassation court upholds anti-suit injunction for UniCredit Bank

Authorities draft preliminary conditions for the return of foreign companies

Consultants Report Arrival of a Few Western Brands in Russia in 2025

Minister of Economic Development Invites Foreign Companies to Invest in Russia

Russian Constitutional Court Was Asked to Clarify Anti-Suit Injunctions From the APC (Arbitrazh Procedure Code)

Luxury Brands Abandon Part of Their Boutiques in Russia

Foreign Firms Explore Resuming Advertising on Russian Television

Russian Finance Ministry Tightens Rules for Foreign Exit from Russian Business

Kept Estimates How Many Companies from Unfriendly Countries Remain in Russia

AmCham has assessed the prospects for Western companies returning to Russia

Ariston to Continue Operations in Russia After End of Temporary Management

Which Western Companies Are Unlikely to Return to Russia

What Legislative Changes Are Needed for the Return of Foreign Businesses to Russia

Federation Council Committee on Economic Policy Proposes Conditions for the Return of Western Carmakers to Russia – Localisation and Technology Transfer Required

Russian Authorities Developing Rules for the Return of Foreign Companies

Chinese Engine Manufacturer Enters Russian Market

French Infrastructure Holding Vinci Exits Russia

Government Approval Required for the Return of Foreign Companies to Russia

Regional Agencies Propose Criteria for Assessing the Quality of Investments by Departed Foreign Companies

Lawyers Discuss Private Asset Swaps Between Russians and Foreigners

VSMPO-Avisma Shares Surge on Speculation Boeing May Resume Titanium Purchases from Russia

Samsung Increases Marketing Activity in Russia

EU Expects European Companies to Exit Russia by the End of 2025

Requirements for Localisation and Investment Will Change for Foreign Companies Returning to Russia – Ministry of Economic Development

Viktor Orbán’s Son-in-Law Reportedly Interested in Buying Raiffeisenbank in Russia

Renault Considering Return to Russia

Unclaimed Dividends of Foreign Companies May Be Reclaimed

RDIF Head Estimates US Business Losses from Exit from Russia at $300 Billion

Exit of Foreign Companies from Russia Slowed in 2024

Russian Lobbyists Invite Western Consumer Brands to Return