President Vladimir Putin has authorised Armenian investment fund Balchug Capital's purchase of Goldman Sachs' unit in Russia, a government decree published on Friday showed, potentially paving the way for the U.

President Vladimir Putin signed a decree Friday allowing the Armenian investment fund Balchug Capital to acquire the Russian subsidiary of U.S. investment bank Goldman Sachs. Goldman Sachs, which had operated in Russia since 2009,

President Vladimir Putin is allowing Goldman Sachs Group Inc. to sell its business in Russia, making the US firm one of the few Western banks to fully exit the country.

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.