MOSCOW, August 2. /TASS/. Intesa Sanpaolo made the decision to wind down operations of its representative office in Moscow, Reuters news agency reported.

The largest Italian bank failed to get an approval for the complete withdrawal from Russia due to asset sale restrictions, the news agency informed.

Termination of operations of the representative office will not affect current operations of the bank in Russia, an Intesa spokesperson said. The Italian banking group will continue reducing operations related to Russia.

The resolution to close the representative office will come into force during several months, Reuters said, citing data of the Italian newspaper Il Messaggero.