Putin decree authorizes US hedge fund to buy foreign-owned Russian securities

Russian President Vladimir Putin has given a U.S. hedge fund permission to buy securities in Russian companies from certain foreign stakeholders. Putin also authorized their future sale to two Russian funds, a presidential decree showed Monday, March 17.

It’s a stark contrast from the various international sanctions that have been placed on Russia since its invasion of Ukraine, which have largely blocked Russian investors from securities held outside the country. Meanwhile, Russia has frozen Western funds in response.

According to Reuters, since launching its war in Ukraine, any transactions involving the energy and finance sectors require Putin’s approval.