In Russia Nor More: Putin Signs Decree Allowing Acquisition of Baker Hughes Russian Assets

Nov 4 (Reuters) – Russian President Vladimir Putin has signed a decree allowing Russian company Nefteservisnie Tekhnologii to acquire U.S. oilfield services provider Baker Hughes’ (BKR.O) Russian assets, a Russian government document published on Thursday showed.

Baker Hughes announced in March that it was suspending new investments in Russia after Western countries imposed unprecedented sanctions when Moscow ordered tens of thousands of troops into Ukraine on Feb. 24. In August, Baker Hughes announced it had sold its oilfield services business in Russia to the local management team.

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