EU lender challenging order to leave Russia ...News

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EU lender challenging order to leave Russia
Italy’s UniCredit has asked the bloc’s top court to review the ECB’s request UniCredit has appealed to the EU’s top court to clarify an order issued by the European Central Bank (ECB) for the Italian institution to reduce its presence in Russia. The lender has applied to the General Court of the European Union for “definitive legal clarification” of obligations set by the ECB for winding down its Russian business, UniCredit said in a statement on Monday. UniCredit said that while it is complying with the regulator’s request to slash its activities in Russia, it is concerned “about the terms upon which this reducti

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