The Italian bank moves toward divesting assets in Russia amid ongoing geopolitical tensions and sanctions pressures.
UniCredit has reached a non-binding agreement to sell parts of its Russian business, marking a step toward reducing exposure in the region. The deal follows mounting regulatory and investor pressure on European banks to exit Russia after its invasion of Ukraine in 2022.
The bank had previously signaled intentions to scale back operations in Russia, where it remains one of the few major European lenders still active. No financial terms or buyer details were disclosed, as the accord remains preliminary.
Shares of UniCredit showed muted reaction in early trading, reflecting investor caution over the deal’s finalization and potential execution risks.