INSUBCONTINENT EXCLUSIVE:
President Vladimir Putin signed a decree Friday enabling the Armenian investment fund Balchug Capital to get the Russian subsidiary of
United States 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 United
States 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
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