Putin approves sale of Citi’s Russia business

The approval from President Putin for the sale of Citigroup's Russia business highlights the bank's strategic withdrawal from the country, which began in earnest after the invasion of Ukraine in 2022. This decision is part of a broader trend of international businesses reassessing their operations in Russia due to geopolitical tensions. The sale not only underscores the impact of the conflict on global markets but also signals a shift in the financial landscape as companies navigate the complexities of operating in a country facing severe sanctions and international isolation.