Citigroup shares react to reports on managing Russian Heritage Trust 📌

4:41 PM 11 August 2025

According to Bloomberg sources, the identified documents provide a detailed account of actions taken by U.S. bank Citigroup aimed at continuing legitimate business with Heritage Trust after sanctions were imposed on Suleiman Kerimov in 2018. Citigroup shares fell following the reports, likely due to concerns over potential regulatory penalties and a federal investigation. The decline was quickly erased. In any case, Citi managed roughly $1 billion in a fund linked to sanctioned Russia.

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