It blows my mind that 3 years in the war, there are still western businesses present in Russia. Arguably, South Africa done far less to “earn” full embargo.
SolidScorpion on
Took them long enough
autotldr on
This is the best tl;dr I could make, [original](https://odessa-journal.com/last-major-american-bank-exits-russia) reduced by 60%. (I’m a bot)
*****
> Starting November 15, the Russian branch of Citibank will shut down its last remaining retail banking branch, according to a statement from Citi reported by Frank RG. From September 20, all Citibank debit cards will be deactivated.
> Deposits from individuals have decreased from 154 billion rubles to just 1 billion, and business account funds have fallen by over 90 times-from 346 billion rubles to 3.8 billion rubles, according to its reports.
> The presence of Western banks in Russia is now comparable to the late Soviet Union: in the late 1980s, their assets were valued at $40 billion, and during the final years of Brezhnev's stagnation, at $10 billion.
They held on for a long time didn’t they? They wanted to get that money
biggmonk on
Reminds me of this quote “Let me issue and control a nation’s money and I care not who writes the laws.” Hence why I don’t think this is necessarily good news
thatgeekinit on
Will the Russian economy be more robust against western sanctions without excessive overdraft fees?
Rabbits-and-Bears on
“2018: Citigroup Sets Restrictions on Gun Sales by Business Partners“
Funny that they do business in Russia at all.
12 Comments
It blows my mind that 3 years in the war, there are still western businesses present in Russia. Arguably, South Africa done far less to “earn” full embargo.
Took them long enough
This is the best tl;dr I could make, [original](https://odessa-journal.com/last-major-american-bank-exits-russia) reduced by 60%. (I’m a bot)
*****
> Starting November 15, the Russian branch of Citibank will shut down its last remaining retail banking branch, according to a statement from Citi reported by Frank RG. From September 20, all Citibank debit cards will be deactivated.
> Deposits from individuals have decreased from 154 billion rubles to just 1 billion, and business account funds have fallen by over 90 times-from 346 billion rubles to 3.8 billion rubles, according to its reports.
> The presence of Western banks in Russia is now comparable to the late Soviet Union: in the late 1980s, their assets were valued at $40 billion, and during the final years of Brezhnev's stagnation, at $10 billion.
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/1fi3hj3/last_major_american_bank_exits_russia/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ “Version 2.02, ~693905 tl;drs so far.”) | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr “PM’s and comments are monitored, constructive feedback is welcome.”) | *Top* *keywords*: **billion**^#1 **bank**^#2 **Russia**^#3 **rubles**^#4 **Citibank**^#5
Lol Citibank also known as shitty bank
So there’s still minor American banks in Russia ?
They held on for a long time didn’t they? They wanted to get that money
Reminds me of this quote “Let me issue and control a nation’s money and I care not who writes the laws.” Hence why I don’t think this is necessarily good news
Will the Russian economy be more robust against western sanctions without excessive overdraft fees?
“2018: Citigroup Sets Restrictions on Gun Sales by Business Partners“
Funny that they do business in Russia at all.
It’s about time!
Right guys, let’s WWIII.
So, similarities to City Wok.