Barclays Plc and HSBC Holdings Plc both exited Russian retail banking 10 years ago. But others are still there, among them Unicredit SpA, Société Générale SA, Raiffeisen Bank International AG and Citigroup Inc. These banks function in Russia just like their local counterparts, raising deposits in rubles and making loans in rubles. They're not subject to sanctions (which may give them a temporary competitive edge), but they are subject to the capital controls Russian authorities have put up in response, preventing them from repatriating earnings.