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Putin allows trading in Russian assets
(MENAFN) Moscow has granted a US hedge fund permission to purchase securities in Russian companies from select Western stakeholders, signaling a potential thaw in relations between Russia and the United States.
On Monday, President Vladimir Putin signed a decree allowing New York-based hedge fund 683 Capital Partners to acquire shares in Russian firms previously held by around a dozen Western financial entities. These include Jane Street, Grantham, Mayo, Van Otterloo & Co., Templeton Asset Management, Franklin Advisers, Highmark Limited, and Carrhae Capital.
The decree further permits 683 Capital Partners to resell these securities to two Russian firms, Cepheus-2 and Modern Real Estate Funds, without requiring additional approvals.
This move slightly relaxes the strict controls Moscow imposed in September 2022, which barred companies from so-called "unfriendly" nations from trading Russian securities in key sectors like energy and finance without presidential authorization. The original restrictions were introduced as a countermeasure to Western sanctions.
As of December 31, 2024, 683 Capital Partners managed a portfolio worth approximately $1.61 billion, spanning multiple asset classes.
The decision comes amid a shift in US-Russia relations following Donald Trump’s return to the White House in January. Talks have begun between Washington and Moscow to negotiate an end to the Ukraine conflict, with Trump suggesting that sanctions on Russia could be lifted if a peace deal is reached.
The Kremlin has confirmed that Putin and Trump are scheduled to hold a phone call on Tuesday, their second conversation in just over a month. The discussion is expected to focus on potential peace negotiations. Meanwhile, high-level diplomatic meetings between the US and Russia have taken place in Saudi Arabia and Türkiye, as well as a recent visit to Moscow by US Special Envoy Steve Witkoff to propose a 30-day ceasefire.
On Monday, President Vladimir Putin signed a decree allowing New York-based hedge fund 683 Capital Partners to acquire shares in Russian firms previously held by around a dozen Western financial entities. These include Jane Street, Grantham, Mayo, Van Otterloo & Co., Templeton Asset Management, Franklin Advisers, Highmark Limited, and Carrhae Capital.
The decree further permits 683 Capital Partners to resell these securities to two Russian firms, Cepheus-2 and Modern Real Estate Funds, without requiring additional approvals.
This move slightly relaxes the strict controls Moscow imposed in September 2022, which barred companies from so-called "unfriendly" nations from trading Russian securities in key sectors like energy and finance without presidential authorization. The original restrictions were introduced as a countermeasure to Western sanctions.
As of December 31, 2024, 683 Capital Partners managed a portfolio worth approximately $1.61 billion, spanning multiple asset classes.
The decision comes amid a shift in US-Russia relations following Donald Trump’s return to the White House in January. Talks have begun between Washington and Moscow to negotiate an end to the Ukraine conflict, with Trump suggesting that sanctions on Russia could be lifted if a peace deal is reached.
The Kremlin has confirmed that Putin and Trump are scheduled to hold a phone call on Tuesday, their second conversation in just over a month. The discussion is expected to focus on potential peace negotiations. Meanwhile, high-level diplomatic meetings between the US and Russia have taken place in Saudi Arabia and Türkiye, as well as a recent visit to Moscow by US Special Envoy Steve Witkoff to propose a 30-day ceasefire.
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