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Citigroup flags $5.4 billion exposure to Russian assets

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A Citi logo sits on display outside a Citibank bank branch operated by Citigroup Inc. in Moscow, Russia.
Andrey Rudakov | Bloomberg | Getty Images

Citigroup said on Monday its total exposure to Russian assets was $5.4 billion at the end of December, compared with $5.5 billion at the end of September.

The $5.4 billion exposure represents 0.3% of the bank’s assets in 2021, according to a regulatory filing.

Citigroup also warned of a potential hit from escalated tensions between the West and Russia following its invasion of Ukraine.

“Citi continues to monitor the current Russia-Ukraine geopolitical situation and economic conditions and will mitigate its exposures and risks as appropriate,” the bank said.

The bank’s total third party exposure in Russia was nearly $8.2 billion as of Dec. 31, it said in the filing.

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