The American banking conglomerate Citigroup announced that it is selling its remaining business in Russia to Renaissance Capital and predicts a loss of $ 1.2 billion. The announcement was published on the Citigroup website and on the portal of the US Securities and Exchange Commission.
Citigroup announced that the remaining business of its Russian subsidiary Citibank will be sold in full to Renaissance Capital. The transaction is expected to be signed and completed in the first half of 2026, after receiving all necessary approvals.
On November 12, Vladimir Putin signed a separate decree authorizing the transaction.
