Russian Authorities See Continued Interest from U.S. Businesses in Operating in Russia
Presidential Press Secretary Dmitry Peskov said that U.S. businesses remain interested in restoring trade, economic, and investment cooperation with Russia, while noting that there are currently no practical mechanisms for doing so. Earlier, following talks with U.S. Treasury Secretary Scott Bessent on the sidelines of the G20, Russian Finance Minister Anton Siluanov also stated that there were “points of convergence” between Russia and the United States on financial issues.
Kirill Dmitriev, Special Presidential Representative for Investment and Economic Cooperation with Foreign Countries, said that Russia plans to propose holding a business forum in 2027 with representatives from the United States and Germany. Robert Agee, President of the American Chamber of Commerce in Russia (AmCham), noted that U.S. businesses are waiting for the ban on new investment in Russia to be lifted. On September 16, 2026, the U.S. House of Representatives passed legislation introducing additional sanctions against Russia and authorizing tariffs targeting major purchasers of Russian energy resources. The bill was signed into law by the U.S. President on September 18, 2026.
Canpack Announces Completion of Its Exit from Russia
U.S.-Polish aluminum packaging manufacturer Canpack announced the sale of its Russian assets to a new owner. According to the company, the transaction was valued at $122 million and was completed on September 10, 2026. The assets were acquired by Vadim Smagin, owner of the Bochkari beverage plants.
At the end of last year, the company’s assets were placed under the temporary management of Stalelement LLC. Later, under Presidential Decree No. 602 dated August 24, 2026, Canpack’s assets were removed from temporary management.
Bank of Russia to Continue Efforts to Restore Investors’ Rights to Blocked Assets
The Bank of Russia published a draft of the Main Directions for Financial Market Development for 2027 and the 2028–2029 period. Among other things, the document states that work on blocked assets will continue using the mechanisms and instruments already in place.
According to the regulator, measures introduced since 2022 have made it possible to unblock assets worth RUB 5.3 trillion. In addition, assets and related payments totaling RUB 6.7 trillion were transferred from foreign jurisdictions to Russia. Bank of Russia data.
Arbitration Court Freezes Russian Assets of Beiersdorf
An arbitration court ordered the freezing of assets belonging to the Russian subsidiary of German company Beiersdorf, owner of the Nivea and Eucerin brands. The decision was taken as part of a legal dispute between the company and Arnest JSC concerning amendments to a production and supply agreement.
Arnest is the only Russian manufacturer of Beiersdorf products, although most of the company’s products are supplied to Russia through imports. Beiersdorf has operated in Russia since 1998. In 2025, the company reported revenue of RUB 20.8 billion and net profit of RUB 2 billion.
Belgian Council of State Annuls Treasury Refusal to Unblock Russian Assets
Belgium’s Council of State ruled that an earlier Treasury decision refusing BCS Bank’s request to unblock assets held at Euroclear was unlawful. The court found that the Belgian Finance Minister’s order delegating authority over asset-unblocking decisions to the Treasury was unlawful, and that U.S. sanctions do not deprive BCS Bank of the right to challenge decisions by the Belgian regulator.
The ruling creates a precedent for Russian investors seeking to challenge decisions on applications to unblock assets. It will not automatically invalidate all previous decisions, but may allow a number of cases to be reconsidered. The ruling is particularly significant against the backdrop of renewed discussion over the possible transfer of frozen Russian assets from Belgian jurisdiction to the jurisdiction of the European Union.