Putin greenlights sale of Citigroup's Russian bank - report

[Volgograd. Russia - November 18, 2017. The building of the City Bank on Lenin Avenue]
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Russian President Vladimir Putin signed an order that permits Citigroup (C [https://seekingalpha.com/symbol/C]) to sell its Russian bank to Renaissance Capital, according to a media report on Wednesday.

The Russian government posted a copy of the presidential order that provided no further details on the transaction, Bloomberg News reported. [https://www.bloomberg.com/news/articles/2025-11-12/putin-allows-citigroup-to-sell-its-russian-bank-mhw0u1vd]

In August 2022, Citi (C [https://seekingalpha.com/symbol/C]) said it would wind down [https://seekingalpha.com/news/3876597-citigroup-to-wind-down-russia-consumer-local-commercial-banking-units]its consumer and local commercial banking units in Russia after the country invaded Ukraine. The company had previously announced plans to exit consumer banking in the country as part of CEO Jane Fraser's plan to refocus consumer banking on four major wealth centers.

Citi (C [https://seekingalpha.com/symbol/C]) stock rose 0.4% in premarket trading.

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