Russia's Central Bank revokes American Express Bank's license for liquidation during the Ukraine war.

Russia's Central Bank revokes American Express Bank's license after the US lender opted for liquidation in the country, ranking 300th among Russia's largest banks by assets. American Express suspended operations in Russia and blocked Russian banks from its payment networks in response to the 2022 invasion of Ukraine. President Vladimir Putin granted permission for the liquidation in May, as Western companies face regulatory challenges exiting Russia during the ongoing war.

August 13, 2024
4 Articles