Citigroup is being probed by US government agencies over its ties to sanctioned Russian billionaire Suleiman Abusaidovich Kerimov, Barron's reported on Thursday, citing a person familiar with the matter.
The US Department of Justice, the Federal Bureau of Investigation, and the Internal Revenue Service are probing the bank's work with Delaware-based Heritage Trust, which holds assets owned by Kerimov, the report said.
Kerimov was sanctioned by the United States in 2014 and 2018 in response to Russia's actions in Syria and Ukraine.
The United States in 2022 had taken enforcement action imposing restrictions against Heritage Trust over interests held by the Russian oligarch.