Putin Allows Citi to Sell Russia Unit to Renaissance Capital (1)

Russian President Vladimir Putin signed an order allowing Citigroup Inc. to sell its bank inside the country, the latest in a string of banking deals the Kremlin has greenlit.

Putin permitted Renaissance Capital to buy the unit, according to a signed presidential order the Russian government posted on Wednesday. The document contained no other details about the sale.

Earlier this year, Putin allowed Goldman Sachs Group Inc. to sell its business in Russia to Balchug Capital. That came just weeks after he signed a decree allowing Natixis to sell its business in the country. And in January, ING Groep NV ...