UniCredit, Raiffeisen See Fading Options to Get Out of Russia
- Geopolitical tension leaves lenders only able to wind down
- Russia wary of moves that would incur more sanctions
A Raiffeisen Bank branch in Moscow.
Source: Bloomberg
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Until recently, Western banks in Russia held a slim hope that they would be able to sell their operations and exit the country with cash in hand. That possibility is fast disappearing.
The Russian government is signaling that it will block any attempt by lenders including Raiffeisen Bank International AG and UniCredit SpA to sell local units to any buyer that risks being sanctioned, according to people familiar with the matter.