City Group Is Trying to Get Rid of Its Retail Bank in Russia

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City group is trying to get rid of its retail bank in russia. It's been trying to off load the consumer bank since last year. But now rusis at war and its banking industry has been slammed by sanctions. Because of this, city group is having an even harder time getting rid of the business. The war in ukraine is overshadowing the french presidential election.

EU leaders prepare to meet in Versailles today for a summit aimed at a unified response to the war in Ukraine, and Citigroup is having a hard time selling its retail bank in Russia. Plus, the FT’s Paris bureau chief Victor Mallet explains how the Ukraine war is boosting Emmanuel Macron’s re-election chances.

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Mentioned in this podcast:

EU struggles to deepen unity on defence and energy

Citigroup ‘running out of options’ in push to sell Russian bank

A home run’: Ukraine war boosts Emmanuel Macron’s re-election chances

War in Ukraine: free to read

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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