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Russia to review foreign bank sales case-by case, central bank says

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Reuters UK

MOSCOW (Reuters) – Russian’s central bank will review deals by foreign banks to sell their Russian operations on a case-by-case basis, the governor Elvira Nabiullina said on Friday, as Moscow has signalled it would block any future exit attempts in sanctions retaliation. The finance ministry said last week that Russia would block the sale of foreign banks’ Russian subsidiaries while Russian banks abroad cannot function normally. Italy’s UniCredit and Intesa, U.S. Citi and Austria’s Raiffeisen continue to search for options to exit Russia while others such as Societe Generale and HSBC have foun…

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