The Russian subsidiary of Citibank is also one of the affected financial institutions.
(Photo: Bloomberg)
Moscow Russia bans trading in shares or share capital of banks based in countries classified as “unfriendly”. The list published on Wednesday includes 45 institutions, including Russian subsidiaries of the major Italian banks Intesa and Unicredit, the Swiss Credit Suisse, the Austrian Raiffeisen Bank and the US Citibank, as well as the Russian Yandex Bank and the Ozon Bank. Russia describes states as “unfriendly” that have imposed sanctions because of the Ukraine war.
Western countries and allies have responded to Russia’s war of aggression against Ukraine with sweeping punitive measures. Moscow then responded, among other things, with hurdles for western companies that want to leave Russia. In some cases, their assets have been confiscated.
The list now published follows a decree by President Vladimir Putin on August 5. This banned trading in financial and energy holdings owned by owners from “unfriendly” countries unless special permission was granted.