Russian President Vladimir Putin has authorized some international funds, including American ones, to sell Russian securities. The decision aims to ease financial restrictions amid ongoing sanctions.
Sanction Relief as Negotiations Progress
According to Bloomberg, Putin issued a decree allowing US hedge fund 683 Capital Partners LP to buy Russian securities previously owned by several Western asset managers. Franklin Advisers Inc., Templeton Asset Management Ltd., and Baillie Gifford Overseas Ltd. received the right to offload their assets. Following the decree, the ruble climbed to 87 per dollar, achieving its highest level in seven months before dropping to 83.
Trump-Putin Talks on Ceasefire and Trade
Kremlin spokesman Dmitry Peskov confirmed that Putin and Trump are to hold a phone conversation soon. The US side hints at possible concessions in ceasefire talks, including territorial adjustments and infrastructure control, but discussion details remain undisclosed.
Investors Prepare for Market Reopening
The ruble's surge is backed by optimism about the conflict's resolution and sanction rollback. Some investors anticipate potential shifts toward Russia-friendly policies under Trump's leadership, yet Russian bonds largely remain off-limits to foreign institutional investors due to regulatory constraints.
Putin's move to allow Western funds to sell Russian securities marks a step towards easing financial restrictions. Upcoming Trump-Putin talks may contribute to further sanctions relief and the restoration of economic ties.
