Italian bank UniCredit considers quitting Russia
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© Reuters. FILE PHOTO – UniCredit’s logo can be seen downtown Milan on August 18, 2014. REUTERS/Stefano RellandiniMILAN (Reuters – Chief Executive Andrea Orcel stated Tuesday that UniCredit, an Italian bank, is undertaking an urgent review on its Russian operations and may decide to leave the country following its invasion of Ukraine.
Orcel stated that the Ukraine crisis had changed the economic climate and that the bank now assumed there would be stagflation.
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