In a significant reversal, Deutsche Bank announced Friday it is planning to shut down its business in Russia
The shift comes just a day after Deutsche Bank told CNBC it wasn't"practical" to leave Russia, a source of legal troubles in the past for Germany's largest lender. Russia owes Western banks $120 billion.
It's not clear what sparked the reversal from Deutsche Bank, which said earlier this week it has"limited" exposure to Russia, with gross loan exposure of about $1.5 billion. That's more than twice the amount of exposure Goldman Sachs indicated it has.
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