European banks leaving Russia would hurt Western and Russian companies, Kremlin says

MOSCOW, June 25 (Reuters) – European banks leaving Russia would damage both Western and Russian companies, Kremlin spokesman Dmitry Peskov said on Tuesday, pointing to the many Western businesses that still operate and use banking services in Russia.

With most major Russian banks under Western sanctions over Russia’s February 2022 full-scale invasion of Ukraine, foreign banks including Austria’s Raiffeisen Bank International (RBIV.VI), opens new tab and Italy’s UniCredit (CRDI.MI), opens new tab, have become key financial bridges with the West, boosting profits in the process.