The Securities and Exchange Commission (SEC) recently posed a series of probing questions to Citigroup seeking to understand the impact of Russia’s invasion of Ukraine on the bank’s exposure in Russia.
In response to a May 2 letter from the SEC’s Division of Corporation Finance, Citi said on May 9 it had reduced its total exposure in Russia from nearly $10 billion in December 2021 to $7.9 billion in March 2022 as it “began actively reducing its operations in Russia and Russia-related exposures.” The exchange was published in a regulatory filing Friday.
