Putin says Western firms may regain Russian holdings under favorable conditions
President Vladimir Putin told the Valdai Forum that Russia could return assets to European companies if a "favourable scenario" develops.
At the Valdai Forum of international experts in Moscow, President Vladimir Putin explained that Russia's decision to place a number of European enterprises under temporary external administration is a mirror action to the West's confiscation of Russian assets. He stressed that the state has not nationalised any holdings and that the step is intended as a proportional response. Referring specifically to actions in the Federal Republic of Germany, Putin described the Western seizures as a blatant breach of rules.
When asked whether the European firms could regain control of their Russian operations, he affirmed that a "favourable scenario" would allow the assets to be returned. The Kremlin framed the policy as a temporary measure pending diplomatic developments.
Why it matters
It signals potential reversal of asset seizures, affecting foreign investors and Russia-West economic relations.
How this story developed
- Sep 9 Russia's budget gap widens to 2.5% of GDP, Kremlin downplays risks
- Sep 21 Preliminary results show United Russia winning 355 of the 450 State Duma seats, surpassing its previous 2016 high. The foreign ministries of the United Kingdom, Canada, Australia, New Zealand and Norway issued a joint statement condemning elections held in Crimea and the four Ukrainian regions seized by Russia as violations of Ukraine's sovereignty. They demanded accountability for those organizing the vote and urged Russia to end its war and accept an unconditional ceasefire. The same period saw France support the removal of oligarch Alisher Usmanov from the EU sanctions list, a move backed by Slovakia and linked to broader negotiations over detained French nationals in Azerbaijan.
- Sep 21 Western allies issued a joint declaration condemning the election as a breach of Ukraine’s sovereignty.
- Sep 22 EU announced a €3.3 billion release for Ukrainian missile and drone purchases.
- Sep 22 Trump told reporters he wants to stop sending diesel abroad, citing the surge in diesel costs driven by conflicts in Iran and Ukraine. Treasury Secretary Scott Bessent said the administration is reviewing whether a full or partial ban is feasible. Republican Senate hopefuls, including Ashley Hinson, have urged the government to adopt the ban to ease price pressures on Americans.
- Sep 23 Rural GOP lawmakers have publicly demanded action on diesel exports ahead of the November election.
- Sep 24 President Trump announced support for a diesel export ban.
- Sep 24 Reports allege that corporate managers pressured staff to vote for United Russia, suggesting coercion in the electoral process.
- Sep 26 The European Union has asked the administration to keep U.S. diesel exports flowing amid the price surge.
- Sep 26 At the UN General Assembly, Sergej Lavrov declared that the threat to Russian security will be eliminated and that peaceful life will return, while accusing Europe of blocking peace talks.
- Sep 27 German Foreign Minister Johann Wadephul held a bilateral meeting with Sergej Lavrov at the United Nations, the first such talks at this level since the conflict began.
- Sep 28 Polish Deputy Prime Minister Radosław Sikorski publicly urged Lavrov to end the war during a UN Security Council debate.
- Sep 29 The government announced a lift of the defence budget to a record level for the next fiscal year.
- Sep 29 Trump said he will look into limiting diesel exports.
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