Putin allows Mexican company to buy 99.9% stake in Russian unit of German pump manufacturer Ruhrpumpen

Vladimir Putin has authorized a Mexican company to purchase a 99.9% stake in Rurpumpen Rus, the Russian subsidiary of German pump manufacturer Ruhrpumpen, one of the world’s largest manufacturers of pumping equipment. A decree detailing the move was published on Russia’s official legal acts portal.

According to the Russian side, the decision was made under “special economic measures in the financial and fuel and energy sectors in connection with the unfriendly actions of certain foreign states and international organizations.”

The 99.9% stake will be acquired by the Mexican company Industries E. G., Sociedad Anónima Promotora de Inversión de Capital Variable.

Under the same decree, Putin also authorized transactions involving shares of the fintech group IDF Eurasia, a major financial technology group that owns several projects, including the digital Svoi Bank, the microfinance companies Moneyman and Platiza, and the debt collection agency ID Collect. The group’s parent company completed its relocation from Cyprus to Russia in late 2023.