Italy’s UniCredit could reportedly face sanctions for continuing to do business in the country The European Central Bank (ECB) is planning to require UniCredit, Italy’s second-largest bank, to limit its business in Russia, Reuters reported on Friday, citing two unnamed people with knowledge of the discussions. UniCredit is one of the few foreign lenders to have kept operations in the sanction-hit country despite the Western sanctions imposed on Moscow since the beginning of the Ukraine conflict. The demands of the ECB are reportedly similar to those the regulator previously sent to Austria’s Raiffeisen Bank Inte
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