Citi discloses $9.8 billion Russia exposure as West levels sanctions

Citi discloses $9.8 billion Russia exposure as West levels sanctions

Bloomberg: Citigroup Inc. said it had $9.8 billion in domestic and cross-border exposure to Russia as Western nations level sanctions against the country for its invasion of Ukraine.

The figure, which is as of the fourth quarter, includes $5.4 billion in so-called country exposure, or just 0.3% of the company’s total, according to a regulatory filing Monday. The country exposure compares with almost $96 billion for the UK and $60 billion for Mexico.

Also included in the $9.8 billion amount are about $1 billion of cash and placements with the Russian central bank and other financial institutions, $1.8 billion of reverse repurchase agreements with various counterparties and $1.6 billion due from Russian entities outside of Russia, according to the filing.