Citigroup disclosed on 28 February it had nearly $10bn in total exposures to Russia at the end of 2021, some of which sit in a consumer bank it has been trying to sell and may now be stuck with.

The New York giant, which bills itself as the world's truly global bank, is by far the most exposed of the big US banks to Russia in the midst of a global sanctioning regime that is threatening Russia's economy after its invasion of Ukraine last week. Russia is, nonetheless, a small part of Citigroup's $2.29tn in assets.