Russian President Vladimir Putin allowed a group of Western Hedge and Hedge Managers to be borne in shares of Russian companies that had been blocked since the invasion of Ukraine. The decision was made a day before an expected conversation between Putin and US President Donald Trump about a possible 30-day ceasefire in the conflict.
According to Financial Timesthe measure allows investors such as Jane Street, GMO and Franklin Templeton to sell their participation to the American Hedge 683 Capital Partners. The fund, in turn, is allowed to negotiate with two Russian investment funds without new authorizations by Kremlin.
Since the beginning of the war, in 2022, Putin has banned international investors from buying or selling stocks and titles of Russian bank and energy companies. Any transaction of this type needed the approval of the Russian government. With restrictions, many assets from companies like Nilsk Nickel, VTB Bank and Rosneft were considered virtually worthless by their holders in the West.
The authorization of sale occurs at a time of expectation in the markets, given the possibility that the US may alleviate sanctions against Russia. The Russian currency, Rublo, was valued 36% against the dollar since the beginning of the year, and Russian actions have also registered gains.
US houses did not respond to requests for commentary made by Financial Times regarding Kremlin’s decision.
