President Vladimir Putin signed a decree Friday enabling the Armenian investment fund Balchug Capital to get the Russian subsidiary of U.S.
financial investment bank Goldman Sachs.Goldman Sachs, which had actually run in Russia because 2009, was the very first Wall Street company to exit the nation following Moscows major invasion of Ukraine.In 2023, a Moscow court briefly froze $36 countless Goldman Sachs Russian possessions over claims that the bank had stopped working to settle a multibillion-dollar debt with a Russian-owned bank.Russias Central Bank revoked Goldman Sachs broker and dealer licenses in August 2024, as the company was reportedly preparing to maintain just a banking license.Goldman Sachs had actually entered into a binding arrangement to sell its Russian system, Reuters reported Friday, pointing out a confidential source.
The terms of the offer were not disclosed.A company 99% owned by Balchug Capital had formerly acquired the Russian properties of U.S.
equipment maker Caterpillar in 2024 for an undisclosed sum.Goldman Sachs was among 45 foreign-owned banks that Putin disallowed from selling their shares without his approval after the invasion.Russia has imposed stringent financial restrictions on companies looking for to exit the country in the middle of extraordinary Western sanctions over the Ukraine war.A Message from The Moscow Times: Dear readers, We are facing unprecedented obstacles.
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