Citi has received internal approvals to sell its remaining Russian operations, AO Citibank, to Renaissance Capital. The sale is expected to incur a pre-tax loss of approximately $1.2 billion, mainly due to currency translation adjustments. Despite this loss, the divestment is anticipated to improve Citi's capital position. The transaction is subject to regulatory approvals and could face execution risks. Teljes cikk (Euronews.com)