Industrial Policy & Trade Monitor· 2667 actions· ✨ 89 recent

Presidential Decree No. 693 of 30 September 2025 ("On certain particularities of the sale of property held in federal ownership"), signed by Vladimir Putin and entered into force on the day of its official publication, creates an accelerated pathway for disposing of federally-owned property in cases determined by a separate decision of the President, where the goal is to ensure the Russian Federation's defence capability and security. Market valuation and the appraisal report must be completed within 10 business days of signing the appraisal contract; PSB Bank JSC (formerly Promsvyazbank, the state-controlled defence-procurement bank) is designated as the sale-organising agent and seller-on-behalf-of-the-state. The Decree also authorises the President to set special features of how Russian legislation on privatisation, joint-stock companies, limited-liability companies, the securities market, banks and competition protection applies to such sales. Expressly framed as a counter-measure to "unfriendly" actions by the United States and its allies; structurally the disposal-mechanism complement to the foreign-asset external- administration and seizure decrees (95/322/520/442) — the fast-track liquidation channel that converts seized or nationalised assets into state-budget cash for defence purposes.

Presidential Decree No. 442 of 23 May 2024 establishes a special judicial-administrative procedure by which the Russian Federation or the Central Bank of the Russian Federation can claim, before a Russian court, that an "unjustified deprivation" of Russian sovereign property has been effected by a state body or judicial authority of the United States — and, on a court finding to that effect, receive equivalent-value US-affiliated property located in Russia (real assets, securities issued by Russian companies, cash held in Russian bank accounts, and other property rights) by way of compensation. The mechanism is an explicit reciprocal counter-instrument to the US REPO for Ukrainians Act (Title II of H.R.815, signed 24 April 2024) authorising US executive confiscation of immobilised Russian sovereign assets in US jurisdiction. The decree is structurally extensible: by separate presidential decision, the same procedure may be applied to any other state Russia designates as "unfriendly". Implementing procedural acts and amendments to Russian legislation were required to be adopted by 23 September 2024.