Putin opens Russian airport to foreign investors but keeps firm grip on control

Vladimir Putin has approved the sale of more than 30 per cent of state shares in Russia’s largest airport, marking an unusual move towards privatisation that has caught many observers across Europe off guard. The decision to sell stakes in Moscow’s main aviation hub represents a rare opening of Russian state assets to external investment. However, the Kremlin is retaining what it calls a “golden share” — a special shareholding that grants the Russian state veto powers over major strategic decisions at the airport, ensuring Moscow maintains ultimate control regardless of who else owns stakes in the facility. This arrangement allows Putin to present an openness to market reforms whilst preserving the state’s ability to intervene at critical moments. The privatisation of airport assets comes at a time when Russia faces economic pressures and international sanctions, making foreign investment increasingly valuable to Moscow. The golden share mechanism is a common tool used by governments seeking to balance privatisation with national security concerns, though it effectively limits the practical power of other shareholders to influence airport operations.

Source: Maariv — Original article in Hebrew.