News Feed

Citigroup exits Russian market, affecting 2,300 employees

0 min read

Citigroup had plans to leave Russia in April 2021 due to a general exit from some overseas markets but took extra measures in March 2022. Actions to facilitate the wind-down of consumer and local commercial banking will start this quarter. "In connection with the wind-down plan announced today, Citi expects to incur approximately $170 million in costs, primarily over the next 18 months, largely driven by restructuring, vendor termination fees and other related charges," the company said in a statement.

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
Video

At NATO's Aurora 2026 military exercises in Sweden, a group of Ukrainian drone pilots was tasked with playing the role of attackers. The Kyiv Independent's Francis Farrell spoke with drone pilots from Ukraine's 20th National Guard "Lubart" Brigade, part of the 1st Azov Corps, shortly after they returned from Sweden.

Show More