Russian President Vladimir Putin has signed a decree allowing the Italian banking group UniCredit to sell a portion of its Russian assets. News agencies reported on this development Monday. In May, UniCredit signed a non-binding agreement to sell part of its Russian operations to a private investor based in the United Arab Emirates. The decree signifies a key step in UniCredit’s efforts to reduce its presence in Russia following international sanctions and economic pressures. This move is expected to streamline UniCredit’s portfolio and mitigate risks associated with continuing operations within the Russian Federation. Further details of the sale, including financial terms, have not yet been publicly disclosed. The deal requires further regulatory approvals before completion.