MOSCOW (Reuters) – Russian President Vladimir Putin has authorised Armenian investment fund Balchug Capital to buy shares owned by Goldman Sachs’ Russian subsidiary in nine major companies, mostly in Russia’s energy sector, according to a decree published on Wednesday.
Balchug Capital and Goldman Sachs did not immediately respond to requests for comment.
Balchug Capital was given the green light to purchase Goldman Sachs’ subsidiary in Russia in January, according to a separate decree, paving the way for the U.S. bank to withdraw from the Russian market and extract some capital stranded there.
Moscow has steadily tightened restrictions on foreign asset sales since the start of the war in Ukraine, with transactions involving banks and energy companies requiring Putin’s approval for any deal.
The decree, published on a Russian government portal, stated that Balchug Capital could buy Goldman Sachs International’s shares in energy companies Gazprom, Rosneft, Novatek, Lukoil, Tatneft and Surgutneftegas, as well as in steelmaker NLMK, electricity operator InterRAO and telecoms provider Rostelecom.
(Reporting by Reuters in Moscow and Alexander Marrow in London; additional reporting by Felix Light; Editing by Mark Trevelyan)
