American Express has been granted the right to voluntarily liquidate its Russian business by President Putin, as per a decree published on the official website. However, the details and timeline of the process are not specified. The company halted all operations in Russia in March 2022 in response to Moscow’s invasion of Ukraine, joining other Western corporations in taking such actions. Moscow has since imposed stricter restrictions on foreign assets, with banks needing approval from Putin for any deals. The future of American Express in Russia remains uncertain due to these restrictions and the lack of clarity regarding the liquidation process.
President Putin Grants American Express Right to Liquidate Russian Business Amidst Uncertainty
