This would make Goldman Sachs one of the few Western banks to fully exit Russia after its invasion of Ukraine.

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.

Russian President Vladimir Putin approved Goldman Sachs Group Inc.'s exit from Russia on Jan. 31, allowing the U.S. firm to sell its business to the Armenia-based investment firm Balchug Capital. Goldman Sachs entered into a binding agreement to offload its Russian subsidiary,