UniCredit Denies Reports of Plans to Liquidate Russian Business Operations
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Italian banking group UniCredit has denied reports suggesting the bank plans to liquidate its Russian business operations. The bank stated it is not changing its current strategy regarding its presence in Russia. UniCredit, one of Europe's largest banks, has maintained operations in Russia despite international sanctions imposed following the country's invasion of Ukraine in 2022, though many Western financial institutions have scaled back or exited their Russian operations entirely.