Putin approves Dutch company Mammoet’s sale of its business in Russia

Russian President Vladimir Putin has authorised Mammoet, a Dutch heavy transport and lifting company, to sell its Russian operations.

The Russian president's order authorising the deal has been published on the legal information portal.

The document states that Ashburn Offshore Engineering (Tianjin, China) has received permission to buy 100 per cent of the shares in Mammoet's Russian subsidiary Mammoet Rus LLC from Mammoet Europe Holding B.V. and Mammoet Holding B.V.

Mammoet has announced that it will cease new investments in Russian businesses in April 2022. Presidential permission for the sale of Russian assets by companies from unfriendly countries is required under the new decree "On the application of special economic measures in the financial and fuel and energy sectors".