Nov 14 (Reuters) - Citigroup ( C/PN ) is being probed by

U.S. government agencies over its ties to sanctioned Russian

billionaire Suleiman Abusaidovich Kerimov, Barron's reported on

Thursday, citing a person familiar with the matter.

The U.S. Department of Justice, the Federal Bureau of

Investigation, and the Internal Revenue Service are probing the

bank's work with Delaware-based Heritage Trust, which holds

assets owned by Kerimov, the report said.

"Citi is committed to conducting all business with the

highest consideration for compliance with all applicable laws

and regulations," a Citi spokesperson told Reuters in an emailed

statement.

"At the same time, we are actively ending nearly all of our

institutional banking business in Russia, except for those

operations necessary to fulfill remaining legal and regulatory

obligations, while we proceed with the closing of our Russian

consumer banking business."

A part of the investigation is looking into Citigroup's ( C/PN )

anti-money laundering processes and client vetting, the Barron's

report said.

The DOJ, the FBI, and the IRS did not immediately respond to

Reuters' requests for comment.

Kerimov was sanctioned by the United States in 2014 and 2018

in response to Russia's actions in Syria and Ukraine.

The United States in 2022 had taken enforcement action

imposing restrictions against Heritage Trust over interests held

by the Russian oligarch.