Report: Europe’s cbank forces UniCredit to leave Russia

MOSCOW, Nov 7 (PRIME) -- The European Central Bank (ECB) is pressuring Italy’s banking group UniCredit to force it to leave Russia, The Financial Times reported on Monday.

“The European Central Bank has clashed with UniCredit over the Italian lender’s plans to return cash to shareholders and its failure to leave Russia, according to people familiar with the matter,” the newspaper reported.

“The ECB views the bank’s Russian presence as an unwelcome source of risk and has been pushing it to exit the country, where it has 2.4 billion British pounds of capital tied up,” it also reported.

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