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NEWS: UniCredit in court limbo over possible cuts to Russian business

FILE PHOTO: The headquarters of UniCredit bank in Milan, Italy, February 8, 2016. REUTERS/Stefano Rellandini/File Photo

By STEFANIA SPEZZATI

Unicredit is still awaiting a court decision over whether it must immediately reduce its Russia business to comply with a European Central Bank order, months after filing an objection, people familiar with the situation told Reuters.

The near four-month wait for a decision increases pressure on the lender to show it is complying with the ECB’s requests, whose deadlines have already passed.

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