BNP Paribas and Crédit Agricole are to end all their business operations in Russia, becoming the latest international banks to sever ties with corporate clients in the country after its invasion of Ukraine.
BNP, which had already said it would halt new financing deals, said on Tuesday it would stop processing other types of transactions. French peer Crédit Agricole, which similarly only has investment banking activities in Russia, later said it would also halt all commercial activity there.
The lenders said they were now informing Russian clients.
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