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Putin Approves Sale of Citibank’s Russian Operations to Renaissance Capital

Putin Approves Sale of Citibank’s Russian Operations to Renaissance Capital

Author:

Global Cryptocurrency

Published:

2025-11-12 21:00:03

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BTCCSquare news:

Russian President Vladimir Putin has formally authorized the sale of Citibank's Russian unit to Renaissance Capital, marking Citigroup's complete withdrawal from local banking in Russia. The decree, published on a government website Wednesday, finalizes a process that began in 2022 as geopolitical tensions escalated following Russia's invasion of Ukraine.

Citigroup shares closed 0.72% lower at $100.76 ahead of the announcement, though the stock remains a standout performer with a 47.12% year-to-date return—nearly triple the S&P 500's gains. The transaction represents the final stage of Citi's strategic wind-down of consumer and commercial banking activities in the country.

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