Russia Signs Decree Transferring Full Ownership of a Cypriot Airport Management Firm
A decree issued by Russian President Vladimir Putin transfers all shares in the Cypriot company Northern Capital Gateway, which manages Pulkovo Airport, into the hands of VVSS Holding. The move brings 100 percent of the registered capital under the control of the Russian holding company, according to a publication on the official legal information portal. The transfer consolidates ownership and marks a significant shift in the corporate structure surrounding the airport’s management in response to broader geopolitical and economic considerations.
In the same briefing, it was reported that the 100 percent ownership of the registered capital once held by Thalita Trading Limited, identified as the foreign holding entity behind Air Gates of the Northern Capital, will pass to VVSS Holding. The announcement clarifies that voting rights held by foreign investors in Northern Capital Air Gate have been temporarily allocated to Advanced Industrial and Infrastructure Technologies-7 and to the Northern Capital Air Gate entities. This temporary arrangement is intended to ensure continuity in governance during the transition period.
The decree frames the measures as protective steps aimed at safeguarding Russia’s national interests and economic security amid ongoing sanctions pressures. The document emphasizes that foreign owners retain the ability to reclaim their rights by submitting an application to the holding company. This conditional pathway provides a mechanism for revisiting ownership arrangements if the broader political and economic environment allows a different configurations in the future.
The approved capital of VVSS Holding is projected to stand at 169 billion rubles, underscoring the scale of investment and the importance assigned to Pulkovo Airport and its management by a domestically controlled entity. This level of capitalization signals a long-term commitment to the airport’s operations and strategic role within Russia’s transportation infrastructure. The move aligns with a wider pattern of state-driven or state-influenced reorganizations of strategic assets in sectors tied to national security and critical infrastructure.
Additionally, a related briefing from Deputy Prime Minister Dmitry Chernyshenko indicated that the government is preparing to sign a decree that would authorize an updated strategy for the development of artificial intelligence in the near term. This update reflects ongoing efforts to position Russia within the evolving global AI landscape and to align technological development with national goals. The public discussion around AI strategy underscores the broader context in which industrial policy, digital sovereignty, and security considerations are increasingly intertwined with state-led ownership decisions and strategic asset management.
In a lighter moment during public remarks, Putin referenced the idea of a Supreme Government of Russia, injecting a bit of humor into a formal policy discussion. The remark appeared to illustrate the tensions and realities of governance while underscoring the seriousness with which the administration views strategic control and national sovereignty in matters of critical infrastructure and technology. The exchange was noted as part of broader political discourse surrounding leadership, governance structures, and the execution of state priorities on the domestic and international stages.