Overview
- The decree permits Renaissance Capital to buy 100% of AO Citibank from Citigroup Netherlands B.V. without further Russian regulatory sign-offs.
- Citigroup said the transaction still requires approvals from U.S. regulators before it can close.
- Renaissance Capital confirmed the deal but provided no details, and neither party disclosed price or timing.
- Citi has already wound down most local operations, including closing its last Moscow branch and stopping debit card issuance.
- Citigroup recently reported about $11.7 billion in client exposure related to Russia, largely corporate dividends blocked from remittance.