Russia

Clarification regarding UniCredit's presence in Russia

Milan, 19 June 2025

UniCredit would like to clarify that, contrary to certain public information - its presence in Russia is not in conflict with any international position. 

UniCredit fully complies with all applicable laws and sanction framework (of which Italy is a signatory) and operates at a level that is better or in line with all the requirements of the EU Supervisory Authority which are more stringent than said legislation and sanctions.

UniCredit - as other International and Italian and European companies, including large Banks - still has activities in Russia, which have essentially been in run-down since the start of the conflict - executed at a pace faster than any peer - leading to a business that is fully ring fenced - segregated from the rest of the Group, has less than one billion euro-equivalent in loans and deposits towards Russian companies and with its extreme loss fully covered by a small fraction of our excess capital.