(Bloomberg) -- Citigroup Inc., which already was planning to end consumer banking in Russia, will expand its exit to other business in the country following President Vladimir Putin’s invasion of Ukraine.

“We have now decided to expand the scope of that exit process to include other lines of business and continue to reduce our remaining operations and exposure,” Edward Skyler, executive vice president of global public affairs, said in a statement Monday. “Due to the nature of banking and financial services operations, this decision will take time to execute.

The New York-based financial giant said last week that it was assessing operations in the country after the war caused Russia’s economy to become disconnected from the global financial system. Skyler said Monday that Citigroup will stop soliciting any new business or clients in the country, while providing assistance to multinational corporations unwinding their operations in Russia.

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