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Putin decree permits sale of Goldman Sachs' Russian unit to Armenian fund
Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026
Putin approves the sale of Goldman Sachs' Russian unit to Balchug Capital, an Armenian fund, amid tightened foreign asset sales regulations.
MOSCOW (Reuters) - President Vladimir Putin has authorised the purchase of Goldman Sachs' unit in Russia by investment company Balchug Capital, a government decree published on Friday showed.
Moscow has steadily tightened restrictions on foreign asset sales since the start of the conflict in Ukraine, with banks requiring Putin's approval for any deal.
A source confirmed Goldman Sachs had entered into a binding agreement to dispose of it Russian subsidiary, subject to various conditions.
Balchug Capital, an Armenian investment fund, did not immediately respond to a request for comment. The fund's CEO and founder David Amaryan oversees all investment activity. Last year, the company acquired U.S. machinery maker Caterpillar's Russian assets.
(Reporting by Reuters and Alexander Marrow; Writing by Anastasia Teterevleva; Editing by Andrew Osborn)
President Vladimir Putin has authorized the purchase of Goldman Sachs' unit in Russia.
The investment company Balchug Capital is acquiring Goldman Sachs' Russian subsidiary.
Moscow has tightened restrictions on foreign asset sales, requiring Putin's approval for any deal since the start of the conflict in Ukraine.
David Amaryan is the CEO and founder of Balchug Capital, overseeing all investment activity.
Goldman Sachs has entered into a binding agreement to dispose of its Russian subsidiary, subject to various conditions.
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