Societe Generale is managing its Russia operations with "utmost caution and selectivity" and Citigroup said it risks losing around half of its $10bn business in the country.

As banks try to distance themselves from Putin's regime after the invasion of Ukraine, they're also unveiling how vulnerable they might be. SocGen has emerged as a European bank with one of the largest footprints in the country, while Citigroup's retail unit there means it has higher risks than its Wall Street rivals.