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Putin gives Italian bank Intesa Sanpaolo green light to sell its assets in Russia

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Putin gives Italian bank Intesa Sanpaolo green light to sell its assets in Russia
Anadolu Agency & Reuters WORLD

Published September 29,2023


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PUTIN GIVES ITALIAN BANK INTESA SANPAOLO GREEN LIGHT TO SELL ITS ASSETS IN RUSSIA

Russia’s President Vladimir Putin delivers his speech throughout a live performance marking the one hundredth anniversary of the delivery of Soviet and Russian poet Rasul Gamzatov on the State Kremlin Palace, in Moscow, on September 28, 2023. (AFP File Photo)

Russian President Vladimir Putin on Friday licensed the sale of Italian banking group Intesa Sanpaolo‘s property in Russia.

According to a decree signed by Putin and printed on the federal government portal, the financial institution will be capable of promote all its property in Russia.

Since the start of the Russian “special military operation” in Ukraine, many monetary group stopped their work in Russia.

Intesa Sanpaolo introduced in August that it had determined to curtail actions of its consultant workplace in Moscow.

To keep away from mass capital outflow, the Russian authorities launched a particular process, requesting prior authorization from the federal government for the sale of the businesses with overseas participation.

Source: www.anews.com.tr

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