Russian leader Putin has allowed US investment bank Goldman Sachs Group Inc to sell its business in Russia, making it one of the few Western banks to completely leave the country. About this reported the Bloomberg agency.
According to the signed decree, the buyer of the unit will be Balchug Capital. Goldman Sachs has already entered into a binding agreement to sell its Russian "subsidiary", a source familiar with the situation said.
It is the latest in a series of banking deals that Putin has approved. In December, he signed a decree allowing French bank Natixis to sell its Russian business. And this month, the Netherlands’ ING Groep NV agreed to sell its Russian assets to Global Development JSC, owned by a Moscow-based financial investor.
Nearly three years after Russia’s full-scale invasion of Ukraine, many Western banks still operate in the country, despite public statements of withdrawal. For example, Citigroup Inc. has stopped almost all corporate banking services in Russia, but still has $9 billion in assets there.
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