Italian banks must quit Russia, ECB's Panetta says
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Italian banks must halt their business in Russia as staying in the country also brings a "reputational problem," according to European Central Bank policymaker Fabio Panetta. UniCredit is the European bank with the largest exposure to Russia, while Intesa Sanpaolo is working to dispose of its business in the country. UniCredit's Russian arm was recently hit by the seizure of assets worth €463 million in relation to an aborted gas project. Panetta made the comments during a press conference after the G7 finance meeting in Stresa, Italy.

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https://www.investing.com/news/economy-news/italian-banks-must-quit-russia-ecbs-panetta-says-3457304