Statement from Edward Skyler on Citi’s Operations in Ukraine and Russia

Statement from Edward Skyler on Citi's Operations in Ukraine and Russia

By Edward Skyler, Executive Vice President, Global Public AffairsMarch 9, 2022 04:30 PM

The senseless loss of life in Ukraine is utterly heartbreaking. Our top priority remains the safety of our colleagues and their families. We are proud of the members of the Citi family who have kept our bank operating despite the catastrophe unfolding around them. We have also begun supporting humanitarian efforts on the ground, starting with $1 million in donations from our foundation to relief organizations. Today, we announced that we will match contributions from Citi colleagues, which could lead to an additional $500,000 in donations.

We are continuing our previously announced efforts to exit our consumer banking business in Russia. As we work toward that exit, we are operating that business on a more limited basis given current circumstances and obligations. We are also supporting our corporate clients in Russia, including many American and European multi-national corporations who we are helping as they suspend or unwind their business. With the Russian economy in the process of being disconnected from the global financial system as a consequence of the invasion, we continue to assess our operations in the country.