Overview
- The presidential order names Renaissance Capital Financial Consultant LLC as the buyer and Citigroup Netherlands B.V. as the seller.
- The authorization is issued under Decree No. 520, which requires presidential approval for certain transactions involving designated banks, including Citibank Russia.
- Kremlin spokesman Dmitry Peskov said each such transaction is reviewed individually by a commission and declined to provide additional details.
- Renaissance Capital’s press service did not disclose terms, and the parties have not announced timing, regulatory steps, or operational transition plans.
- Citigroup has been winding down its Russia presence since 2021–2022, selling consumer loan and credit‑card portfolios to UralSib, while Citibank has served as a key depositary and settlement agent for major Russian issuers.