MOSCOW, Jan 31 (Reuters) - President Vladimir Putin has

authorised the purchase of Goldman Sachs' ( GS ) unit in Russia by

investment company Balchug Capital, a government decree

published on Friday showed.

Moscow has steadily tightened restrictions on foreign

asset sales since the start of the conflict in Ukraine, with

banks requiring Putin's approval for any deal.

A source confirmed Goldman Sachs ( GS ) had entered into a

binding agreement to dispose of it Russian subsidiary, subject

to various conditions.

Balchug Capital, an Armenian investment fund, did not

immediately respond to a request for comment. The fund's CEO and

founder David Amaryan oversees all investment activity. Last

year, the company acquired U.S. machinery maker Caterpillar's

Russian assets.