Published by Global Banking & Finance Review®
Posted on April 24, 2025
1 min readLast updated: January 24, 2026
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Balchug Capital has acquired Goldman Sachs' Russian subsidiary, with approval from Putin, aiding international divestment in compliance with sanctions.
MOSCOW (Reuters) -Armenian investment fund Balchug Capital has completed an acquisition of the Russian subsidiary of U.S. bank Goldman Sachs, the firm said in a statement.
Russian President Vladimir Putin gave the green light for Balchug Capital to purchase Goldman Sachs' subsidiary in January, paving the way for the U.S. bank to withdraw from the Russian market and extract capital stranded there.
In a separate decree, Putin authorised Balchug Capital to buy shares in nine major Russian companies owned by Goldman Sachs' subsidiary.
Balchug Capital said the fund was "supporting international investors in divesting from Russia in full compliance with local and international regulations."
It said the fund's assets total $2 billion.
Balchug Capital CEO David Amaryan said that the deal was fully compliant with Western sanctions imposed on Russia over its military action in Ukraine.
(Reporting by Alex Marrow, writing by Gleb Bryanski;Editing by Bernadette Baum)
The main topic is the acquisition of Goldman Sachs' Russian subsidiary by Balchug Capital.
Russian President Vladimir Putin approved the acquisition.
Yes, the acquisition is fully compliant with Western sanctions on Russia.
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