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Putin approves Rosbank buying shares of Russian companies from Societe Generale

The measures were taken in response to the unfriendly actions of some states and international organizations

© Antoine Antoniol/Getty Images

MOSCOW, December 24. /TASS/. Russian President Vladimir Putin approved Rosbank's purchase of shares in VTB, Rosneft, Gazprom, Norilsk Nickel and other Russian companies owned by Societe Generale.

French financial group Societe Generale ceased its activities in Russia in 2022. It previously owned Rosbank. Last May, Societe Generale signed a deal to sell its banking and insurance business in Russia to Vladimir Potanin's Interros.

Now Rosbank will be able to buy back shares in a number of energy companies from its former owner, including Rosseti, RusHydro, Inter RAO, Gazprom and Gazprom Neft, Lukoil, Surgutneftegaz, Rosneft and Tatneft, Transneft, Unipro.

The list also includes VTB Bank, Rostelecom, and Aeroflot, diamond mining company Alrosa, and steel and mining company Severstal. In addition, Rosbank is allowed to buy shares in Nornickel, gold producer Polyus, and a number of other companies.

The measures were taken in response to the unfriendly actions of some states and international organizations.

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