Reported 5 months ago
Russian President Vladimir Putin has approved the closure of American Express Co's business in Russia through "voluntary liquidation," as stated in a decree published on the official website. The specific details and timeline for the liquidation process were not outlined in the decree. American Express suspended its operations in Russia in March 2022 in response to Moscow's invasion of Ukraine, and the company's future in the country has been uncertain since then. Putin's approval is now necessary for any foreign asset deals in Russia, as the government has been imposing stricter restrictions on such transactions.
Source: YAHOO