The Voice News: MOSCOW – Russian President Vladimir Putin has officially authorized a local energy firm, BurService, to acquire the Russian assets of UK-based energy solutions provider Aggreko, marking another significant transfer of foreign business holdings to domestic operators amid Moscow’s ongoing economic recalibration.
The decree, published Monday on the Russian government’s official legal portal, grants BurService clearance to proceed with the transaction, although the financial terms of the deal were not disclosed.
This move reflects Russia’s increasingly stringent oversight of foreign asset sales, particularly in strategic sectors such as energy and finance. Since the onset of the Ukraine conflict, any such transaction now requires direct presidential approval, underscoring the Kremlin’s efforts to assert greater control over its domestic economy.
Neither BurService nor Aggreko responded immediately to Reuters’ requests for comment.
BurService was established in 2022 following the withdrawal of U.S. oilfield services giant Halliburton from the Russian market. At the time, Halliburton divested its Russian operations to a management team composed of former local employees. Since then, BurService has operated as an entirely independent Russian company, continuing operations in the energy services sector.
This development aligns with Moscow’s broader strategy to nationalize or localize foreign-owned enterprises that have exited the country due to international sanctions or corporate decisions to scale back operations in Russia.
