US banking giants Goldman Sachs and JP Morgan to exit Russia

Mark Battersby
clock • 1 min read

First Goldman Sachs, and then JPMorgan Chase, announced yesterday (10 March) their planned withdrawal from operating in Russia, following similar moves by a swathe of other high-profile names across the international financial services industry in response to the widespread sanctions regime. "Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements," the bank said according to multiple media reports of an emailed statement. "We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations...

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