Russian President Vladimir Putin has granted Rosbank permission to buy holdings in Societe Generale-owned significant Russian enterprises, including oil producers Rosneft and Gazprom, metals businesses Norilsk Nickel and Severstal, and other Russian blue chip corporations.

The ruling allows Rosbank to trade Russian assets with companies from “unfriendly” countries, which need Moscow’s permission to trade Russian assets.

Societe Generale left Russia in May 2022 and sold Rosbank to the Interros group.