FT: Western banks set aside billions of dollars in case of exit from Russia

Western banks have set aside more than $10 billion in anticipation of losses if they leave Russia.

According to RIA Novosti, this was reported by the Financial Times, referring to its own calculations.

According to the newspaper, the sanctions that were imposed against Russia due to a special military operation in Ukraine forced the banks to consider leaving the country.

The newspaper notes that Western banks "reserve more than 10 billion dollars in anticipation of losses from their enterprises."

The publication mentions that the Italian banking group Unicredit, in particular, reserved 1.3 billion euros to cover possible losses in Russia and warned that it could suffer losses of 5.3 billion euros in the event of the termination of its business in the country.