Overall, foreign banks have exposure of $121.47bn in Russia, comprising $67bn of international claims and $54bn of local claims, according to statistics from the Bank for International Settlements at the end of September 2021. Claims are defined as all types of lending, such as loans and bonds, to all borrowers physically located in Russia.
Banks from Italy and France are most exposed to Russia, together accounting for just under a half of the total exposure of foreign banks in Russia, at $25.3bn and $25.2bn, respectively. This is followed by Austrian banks at $17.5bn, US banks at $15.7bn and Japanese at $9.6bn.
