Citigroup’s board has approved the sale of its Russia unit, AO Citibank. The sale comes with a warning of a $1.2 billion loss for the company. The decision reflects Citigroup’s strategy to streamline its operations and focus on more profitable markets. The sale is expected to have a significant impact on the company’s financial results.

Read more at Investing.com: Citigroup board approves sale of Russia unit AO Citibank, flags $1.2 billion loss