Citigroup Inc. (NYSE:C) is included among the 7 Best Fortune 500 Dividend Stocks to Invest in Now. The board of Citigroup approved the sale of its Russian unit to Renaissance Capital, leading to an expected pre-tax loss of around $1.2 billion. The deal is set to close in the first half of 2026.

Over the years, Citigroup has considered exiting Russia due to US and EU sanctions. The bank began winding down operations in Russia before Vladimir Putin’s invasion of Ukraine in 2022. Citigroup later reached an agreement with RenCap to sell its remaining operations, with Putin signing off on the deal in November.

Citigroup Inc. (NYSE:C) stated that the projected loss is mainly due to currency-translation adjustments, which could fluctuate based on currency market movements. The divestiture of remaining business operations is expected to benefit Citi’s CET1 Capital by deconsolidating associated risk-weighted assets.

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Read more at Yahoo Finance: Citigroup (C) Approves the Sale of its Russian Unit to Renaissance Capital