Putin makes an exception and authorizes a US fund to trade Russian bonds amid rapprochement with Trump.
Observers are watching for signs that the rapprochement between the US and Russia could open avenues for Western investors to return to Russia.
Reuters - Russian President Vladimir Putin has given permission to a US hedge fund to buy bonds from Russian companies held by certain foreign shareholders and has authorized the future sale of these assets to two Russian funds, according to a presidential decree released on Monday (17).
Since the beginning of the conflict in Ukraine, Moscow has progressively tightened restrictions on the sale of foreign assets. Any transaction involving the energy and financial sectors requires Putin's direct approval.
Observers are watching for signs that the rapprochement between the US and Russia, driven by Donald Trump's return to the White House, could pave the way for Western investors to resume trading Russian assets. However, Monday's decree, with its scant details, provided few clues about this possibility.
The document authorized the American hedge fund 683 Capital Partners, LP to acquire securities from Russian companies currently owned by about a dozen Western financial entities, including Jane Street, Templeton Asset Management, Franklin Advisers, and Carrhae Capital.
The decree also granted permission for two Russian companies, Cepheus-2 and Modern Real Estate Funds, to acquire the bonds purchased by 683 Capital Partners without needing further authorization from Putin.
Reuters was unable to immediately reach 683 Capital Partners for comment.
International sanctions against Moscow due to the war in Ukraine have blocked many Russian investors from accessing assets held in foreign jurisdictions, while Russian retaliatory measures have frozen Western funds within the country.
Meanwhile, US stocks rose for the second consecutive trading day on Monday.
