BREAKING: Putin makes surprising move with Russian shares ahead of Trump meeting

As global events continue to unfold rapidly, staying updated on the latest developments remains crucial. To keep abreast of the ever-evolving landscape of Russian business and finance, sign up for the myFT Digest for free updates delivered directly to your inbox. In a surprising turn of events, Vladimir Putin has made a move to allow western asset managers and hedge funds to offload Russian securities that have been stuck in limbo since Russia’s invasion of Ukraine. This decision comes on the heels of an upcoming ceasefire discussion between Putin and Donald Trump.

Here are some key points to consider about this recent development:

• Investors, including Jane Street, GMO, and Franklin Templeton, have been granted approval to sell shares in Russian companies to a US hedge fund named 683 Capital Partners.
• This hedge fund will now have the freedom to transact with two Russian investment funds without requiring further authorizations from Putin, according to the decree.
• Managed by Ari Zweiman, 683 Capital Partners oversees $1.6 billion in assets as per SEC filings at the end of 2024.
• Following Russia’s full-scale invasion of Ukraine, Putin had previously banned international investors from dealing in Russian banks’ and energy companies’ shares or bonds without Russian authorities’ approval.
• Western owners of stock in Russian companies have faced significant challenges, with many marking their holdings as worthless due to selling restrictions and sanctions against Russia.

While the details of this decree are still unfolding, it is clear that this move holds implications for both Russian and international investors. As Putin and Trump engage in discussions to broker a ceasefire, the financial markets are closely watching for potential impacts.

In conclusion, the recent decision to allow limited trading of Russian securities presents a glimmer of hope for investors navigating the complexities of the current geopolitical climate. As we await further developments in ceasefire talks and potential shifts in sanctions, staying informed and agile in your financial strategies will be key to navigating these turbulent waters effectively.