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Euronews
Euronews
Una Hajdari

Citigroup cleared to exit Russia as Kremlin keeps tight grip on company departures

Citigroup Kremlin Russia United States Renaissance Capital Vladimir Putin Moscow Citigroup Inc

Russian President Vladimir Putin has authorised US banking giant Citigroup Inc. to sell its Russian banking unit, a move that signals a further retreat of Western financial institutions from Moscow amid heightened geopolitical tensions.

A Kremlin-posted presidential order revealed on Wednesday states that “Citigroup Inc. is permitted to sell its bank inside the country” to Russian investment bank Renaissance Capital.

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