Citi in talks over potential sale of Russia business – FT

Citigroup Inc. is holding discussions with potential buyers regarding the sale of its Russian operations, the Financial Times reported, citing people familiar with the matter.

The U.S. banking giant is in talks with Russian companies, lender Expobank LLC and insurer SPAO Reso-Garantia regarding its consumer and commercial units, the sources reportedly said.

PJSC Rosbank is also reportedly interested in the operations, but U.K. international sanctions on Rosbank's new owner, Vladimir Potanin, could complicate a deal.

Citi, Expobank, Reso-Garantia and Rosbank did not respond to requests for comment by S&P Global Market Intelligence.