UniCredit is reducing its presence in Russia, with key executives leaving and selling a large portion of leasing assets. Contracts worth $39m were transferred to PR-Leasing, signaling a potential full withdrawal. European regulators urge UniCredit to scale down its Russian business to levels similar to Intesa. UAE companies are interested in acquiring UniCredit’s Russian subsidiary. Russian government imposes strict requirements on foreign companies leaving the country after Western exits in 2022. UniCredit pulled out of a deal to buy Banco BPM in July due to conditions set by the Italian government.

Read more at Yahoo Finance: UniCredit initiates steps to exit Russia