Russian President Vladimir Putin authorized a U.S. hedge fund to purchase securities in Russian companies from 11 other funds, mostly based in the U.S. and U.K., according to a presidential decree published Monday.
The decree follows Putin’s August 2022 order, which prohibits U.S. and other investors from countries deemed “unfriendly” by Russia from buying or selling securities in Russian companies in the energy, fuel and banking sectors without his personal approval.
The new decree permits 683 Capital Partners LP to buy Russian company securities from six U.S.-based, four U.K.-based and one Singaporean investment fund.
In addition, two Russian companies, Tsefey-2 and Sovremennye Fondy Nedvizhimosty, are authorized to buy 683 Capital’s securities without needing Putin’s approval.
New York-based 683 Capital, founded in 2006 by Ari Zweiman, oversaw $1.95 billion in assets at the end of 2023, according to Bloomberg.
Separately, U.S. and Russian representatives have made preliminary contacts regarding collaboration with Russia’s state-controlled energy giant Gazprom, Bloomberg reported last week, citing anonymous sources. Putin mentioned the possibility of U.S.-Russian energy cooperation on Thursday.
Monday’s presidential decree was signed just a day before Putin’s scheduled phone call with U.S. President Donald Trump, during which the two leaders are expected to discuss a proposed ceasefire in Ukraine
Speaking to reporters aboard Air Force One on Sunday, Trump said he would talk about “land” and “power plants” with Putin and added that discussions about “dividing up certain assets” between Russia and Ukraine were already underway.
