UniCredit announced on Monday that it has filed a legal challenge against a European Central Bank directive to speed up the withdrawal of its operations in Russia. The Italian lender was among several European banks to receive a letter from the ECB in May, ordering them to reduce their operations in the country.
In a statement, UniCredit said it had concerns about the terms set out by the ECB, which may go “beyond the current legal framework” and was seeking “clarity and certainty”.
