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Putin gives Russian company approval to buy Aggreko's Russian assets

Published by Global Banking & Finance Review

Posted on May 26, 2025

1 min read

· Last updated: January 23, 2026

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Putin gives Russian company approval to buy Aggreko's Russian assets
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Putin Approves BurService's Acquisition of Aggreko's Russian Assets

MOSCOW (Reuters) -Russian President Vladimir Putin on Monday signed a decree that gave Russian company BurService permission to buy Russian assets owned by energy solutions provider Aggreko, according to a document published on the Russian government portal.

Moscow has steadily tightened restrictions on foreign asset sales since the start of the conflict in Ukraine, with any transactions involving the energy and finance sectors requiring Putin's approval.

BurService and Aggreko did not immediately respond to requests for comment. The decree did not specify the value of the deal.

BurService was formed as a result of the departure from Russia by oilfield services company Halliburton in 2022.

Halliburton in September 2022 said it had sold its Russia operations to a Russia-based management team made up of former Halliburton employees.

Halliburton no longer conducts operations in Russia and BurService is an independent company.

(Writing by Alexander MarrowEditing by Tomasz Janowski)

Key Takeaways

  • Putin signed a decree allowing BurService to buy Aggreko's Russian assets.
  • Foreign asset sales in energy require Putin's approval.
  • BurService formed after Halliburton exited Russia.
  • The deal's value was not disclosed.
  • Aggreko and BurService have not commented on the transaction.

Frequently Asked Questions

What company received approval to buy Aggreko's assets?
Russian company BurService received approval from President Vladimir Putin to buy the Russian assets owned by Aggreko.
Why are foreign asset sales in Russia restricted?
Since the start of the conflict in Ukraine, Moscow has tightened restrictions on foreign asset sales, requiring presidential approval for transactions in the energy and finance sectors.
What is the origin of BurService?
BurService was formed following the departure of Halliburton from Russia in 2022, and it is now an independent company.
Did BurService and Aggreko comment on the deal?
Neither BurService nor Aggreko immediately responded to requests for comment regarding the acquisition.
What was Halliburton's status in Russia?
Halliburton no longer conducts operations in Russia and had previously sold its Russia operations to a management team made up of former employees.

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