Economy · Moscow, Russia · October 6, 2026

Putin approves sale of most of UniCredit's Russian bank

Reported by 1 outlet · under-reported · first reported Oct 4, 8:00 PM ET

President Vladimir Putin approved the restructuring of UniCredit Bank Russia and the sale of most of the business to a UAE-based private investor. The Italian lender will keep its payments operations.

Why it matters

The deal shows how Western banks are reducing Russian exposure under sanctions pressure, subject to Kremlin approval.

Background

European banks have faced pressure from regulators to shrink operations in Russia since the 2022 invasion of Ukraine. Russia requires presidential approval for foreign firms from 'unfriendly' countries to sell assets.

The story so far

1. Oct 6Putin approves sale of most of UniCredit's Russian bank
2. Oct 15ECB clears UniCredit to take control of Commerzbank
3. Oct 16ECB clears UniCredit to take control of Commerzbank

Follow the whole story →

Sources

• France 24 ↗October 5, 2026

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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