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FINANCIALS: Unicredit: ECB Clarifying Russian Exit Rules, RBI Impacted

FINANCIALS

Unicredit (UCGIM: Baa1/BBB/BBB) headlines rolling over its attempt to get the ECB to clarify exactly what it was meant to do about its Russian exposures. For reference, its exposure is c.5% of revenues and it appealed to the court around a month ago (news hit on 1-Jul), Raiffeisen (RBIAV: A1) has been under public pressure from the ECB since 18 -Apr is this is a much larger issue for RBI.

  • “*UNICREDIT RECEIVED SOME CLARIFICATION FROM ECB ON RUSSIA CUTS
  • *UNICREDIT WITHDREW PART OF APPLICATION TO EU COURT OVER RUSSIA
  • *UNICREDIT STILL SEEKS ECJ RULING ON SOME ECB REQUIREMENTS” - BBG

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