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Putin approves purchase of Russian Elevator Company from French grain trader Louis Dreyfus

The corresponding order of the president was published on the official portal of legal information

MOSCOW, November 28. /TASS/. Russian President Vladimir Putin has authorized the acquisition of 100% stake in the Russian Elevator Company, owned by the French Louis Dreyfus. The corresponding order of the president was published on the official portal of legal information.

"Pursuant to para 5 of Presidential Executive Order No. 520 of August 5, 2022, On Special Economic Measures in the Financial and Fuel-and-Energy Sectors in Connection with the Unfriendly Actions by Certain Foreign States and International Organizations, the President authorized by his Order a transaction to purchase 100% stake in equity capital of Russian Elevator Company, owned by RUSELCO LLP," the document says.

Russian Elevator Company is owned by the French grain trader Louis Dreyfus. It decided to stop exporting grain from Russia in 2023.

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