President Vladimir Putin authorized a decree enabling the company Restream to acquire Nokia’s 49 percent stake in the Russian joint venture RTK – Network Technologies. The corresponding document was published on the official legal information portal, confirming the move and outlining the transfer of ownership within the state-influenced corporate framework.
Rostelecom and Finland’s Nokia formed a joint manufacturing venture in September 2019. Aligned with Russia’s import substitution policy, the collaboration focused on software development, production, and the deployment of communications network equipment. At that time, the Finnish partner showed willingness to invest up to 10 billion rubles in the project to strengthen domestic technological capabilities and reduce dependency on foreign suppliers.
After the start of the special military operation in Ukraine and the subsequent sanctions imposed on Russia, Nokia announced its withdrawal from the Russian market. Despite this, the Ministry of Digital Development stated that the situation should not degrade the quality or reliability of mobile communications within the country, emphasizing continuity of service for end users and operators.
Under the structure of the joint venture, the Rostelecom group held a controlling 51 percent via Westelcom, while Nokia owned the remaining 49 percent stake. The presidential decree now permits Restream, which is positioned within the orbit of the state operator, to purchase the Finnish shares and consolidate ownership of the venture, effectively achieving full consolidation of RTK – Network Technologies.
Earlier, Putin’s administration permitted Oil Service Technologies LLC to acquire certain Baker Hughes assets in Russia, signaling a broader pattern of state-backed asset realignments in strategic sectors. This trend appears aimed at aligning critical infrastructure with domestic control and strategic priorities as market conditions shift under sanctions and geopolitical pressures.
Additionally, Russia has seen the initiation of a calculator-like mechanism designed to facilitate the exchange or reallocation of blocked assets. This tool is intended to improve efficiency in adjusting holdings within sanctioned environments and to clarify governance for assets affected by regulatory constraints. Market observers note that such moves reflect a broader push toward self-reliance in technology and energy sectors, while balancing potential international sensitivities and compliance requirements for foreign partners and investors. The evolving landscape may influence future investment, corporate partnerships, and regulatory frameworks across Russia’s telecommunications and energy domains, as well as for multinational suppliers operating in the region. Citations and official communications continue to shape stakeholder expectations, with ongoing monitoring of policy developments and enforcement actions across relevant regulatory bodies.