BDO estimated these assets at $3.5 billion, while Nomura investment bank valued them at up to 4.2 billion rubles. In 2011, a meeting with Deputy Prime Minister of the Russian Federation Dmitry Kozak, which led Kozak to instruct the parties to work out proposals for a settlement agreement between the RF Central Bank and Pugachev and to reach an agreement by 13 October 2011. The Central Bank issued a mandate to Nomura to negotiate a settlement agreement. Nomura's source reported that the Central Bank used them as a cover to expropriate the assets. According to information from Central Bank Vice-President Shevtsov, at the time of the expropriation the head of Nomura visited the Kremlin and met with President Medvedev regarding the issue of the placement of Central Bank foreign reserves with Nomura.