Citigroup to stop providing almost all banking services in Russia

One of the biggest financial corporations in the world, Citigroup, will stop providing almost all banking services in Russia by the end of the first quarter of 2023, Report informs referring to the corporation.

Back in April last year, Citigroup announced its decision to withdraw from the retail banking markets of 13 countries, including Russia, as part of a strategy update.

At the end of August, the corporation announced that it would phase out business in the Russian Federation and try to sell some assets, estimating the cost of leaving Russia at $170 million.