In accordance with Presidential Executive Order No 520 of August 5, 2022, On Special Economic Measures in the Financial and Fuel-and-Energy Spheres in Connection with the Unfriendly Actions by Certain Foreign States and International Organisations, the President signed an Order authorising Renaissance Capital – Financial Consultant LLC to execute a transaction to acquire a 100 percent stake in Commercial Bank Citibank Joint-Stock Company, owned by Citigroup Netherlands B.V.
No other approvals, decisions, permissions, authorisations or any other permits are required under the laws of the Russian Federation for executing this transaction.