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Putin permits voluntary liquidation of American Express Bank in Russia

The US American Express is the founder of the credit organization in the Russian Federation

MOSCOW, May 22. /TASS/. Russian President Vladimir Putin has signed a decree permitting voluntary liquidation of American Express Bank in Russia. The document has been published on the official website of legal information.

"To permit activities held by American Express Bank Limited Liability Company on voluntary liquidation in accordance with the procedure provided for by the legislation of the Russian Federation," the document reads.

The US American Express is the founder of the credit organization in the Russian Federation. The bank has been operating in Russia since 2008.

By decree of August 5, 2022, Putin banned a number of transactions relating to the participation of foreigners from unfriendly countries in Russian companies. The restriction applies to transactions with securities of Russian firms owned by them, including the fuel and energy sector and production sharing agreements. Transactions are only possible upon receiving a special permission.