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Putin decrees sale of Unicredit's Russian assets

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President Vladimir Putin has signed a decree allowing the sale of the Russian assets of Italy's Unicredit bank. The measure opens the way for a transfer of the bank's holdings in Russia, the latest step in the wave of exits by Western financial institutions since the invasion of Ukraine. The Moscow Times reported the decree, which has drawn attention to how foreign assets are being handled amid sanctions.

Why now: The Kremlin's decision affects a major Western bank's holdings and signals further consolidation of foreign asset exits from Russia.

Vladimir PutinUnicreditRussiaThe Moscow Times

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