Western banks explore asset swaps as a way of exiting Russia

Western banks explore asset swaps as a way of exiting Russia

UniCredit and Citigroup are exploring asset swaps with Russian financial institutions as western banks exiting the country scramble to avoid hefty writedowns on their operations, according to people with knowledge of their plans. The banks are among a small number of western lenders with a significant presence in Russia. Moscow’s invasion of Ukraine and the …

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