Unicredit Outlines Worst-Case Scenario of Russia Exposure

The transcript discusses the exposure of European banks, particularly UniCredit, to Russian assets, estimating a €15 billion exposure. It explores worst-case scenarios, including a potential 200 basis point loss if all Russian assets are lost. The market has some clarity on the worst-case scenario, but uncertainties remain, especially with Russian markets not returning to normal. Raiffeisen, SoC Gen, and UniCredit are identified as the most exposed banks.

How have the markets reacted to the situation regarding Russian exposure?

What challenges are traders facing in understanding the fallout from the situation?