Citibank still financing Russian oil & gas

US Banks like Citibank are financing Russian oil and gas, prolonging Putin’s bloody war in Ukraine. The Ukrainian government has accused these banks of war crimes for their ongoing financial support of the fossil fuels that drive Putin’s war machine. Last week, during the six month anniversary of the invasion of Ukraine, New Yorkers disrupted Citi’s Taste of Tennis event and shamed them for their crimes.

Join them and tell Citi to exit Russia’s fossil fuel sector and stop financing Putin’s war. Send an email here.

Citi’s involvement with the Russian economy is the largest among all US banks. The bank has at least $8 billion in exposure with investments in oil and gas operations in Russia via companies like Lukoil and Vitol.

Two dozen Ukrainian organizations have demanded a meeting with bank executives about their activities in Russia. On August 24th, New York groups including Climate Families, NYCC, 350 Brooklyn, 350 NYC, Rise and Resist, and Extinction Rebellion NYC joined the outcry at Citi’s headquarters to press Citi to cut all financial ties with the Russian fossil fuel industry and to rethink all of the banks’ investments in the fossil fuel expansion that finances conflict across the globe.

Tell Citi that they to stop financing Russian fossil fuels immediately.

Less than 24 hours after the protest outside Citi’s offices, the bank put out a press release announcing that it would wind down some operations in Russia. Although this is progress, this is not good enough: it will take over two years to wind down, and the bank has stayed silent on its plans for the rest of its fossil fuel business.

The amazing work that Ukrainians and New Yorkers did together pushed Citi into a partial exit from Russia that will cost the bank $170 million.

But that’s not good enough: tell Citi it must go further by immediately ending its financing of Russian fossil fuels. Send an email here.

In solidarity,
– the Stop the Money Pipeline team

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