On October 28, 2022, Citi also announced that AO Citibank agreed to sell a portfolio of ruble-denominated personal installment loans to Uralsib, a Russian commercial bank.

Citi also agreed to transfer to Uralsib a portfolio of ruble-denominated credit card balances, subject to customer consents.

On October 14, 2022, Citi announced that it would be discontinuing nearly all the institutional banking services offered in Russia by the end of March 2023.

In May 2023, Citi confirmed that it agreed to transfer a portfolio of ruble-denominated credit card balances to Uralsib, subject to customer consents and in compliance with local laws and regulations.

This follows Citi’s sale of its Russian consumer personal installment loans to Uralsib in October, and its announcement that its only remaining operations in Russia are those necessary to fulfil its legal and regulatory requirements.