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flag Putin Allows Sanctioned Expobank to Buy HSBC’s Russian Unit.

flag Russian President Vladimir Putin has approved the sale of HSBC's Russian unit to local lender Expobank, owned by Russian entrepreneur Igor Kim. flag The deal, which had been under negotiation since June 2022, faces potential challenges due to Expobank being sanctioned by the United States in December. flag This approval allows HSBC to fully exit the Russian market following months of negotiations.

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