Global investment banks Goldman Sachs and JPMorgan Chase are winding down business in the Russian Federation. The move comes as western sanctions against Moscow over its decision to launch a military invasion of Ukraine continue to expand, supported by leading financial institutions.Goldman Sachs Group and JPMorgan Chase have become the first major American banks to announce they are leaving Russia, a process that according to industry experts may take months if not years.
In a statement, Goldman Sachs said it’s acting in compliance with regulatory and licensing requirements. A source revealed that the bank is currently winding down its operations rather than exiting them immediately. Goldman’s credit exposure to Russia amounts to $650 million. Its shares fell 2.8% to $325.97 in midday trading on Wednesday.
Meanwhile, Citigroup has announced its consumer business operations in Russia are now limited and the bank is implementing a plan to divest the franchise. With almost $10 billion, Citigroup is the U.S. bank with the biggest Russian exposure and has already admitted through a financial executive that its losses may potentially reach half of that total.
That serves them right
Oh no, now they will have to conduct all of their money laundering and financial fraud in Western countries only.
i need some good crypto projects!
Web∞ with tracgrggl Vision : Keep Winning to Save Humanity 🚀 Mission : iesefosp + tracgrggl
I need some good crypto projects
writing off losses, to be, these giants are exploiting opportunities in chaos
It has nothing to do with banks in Russia. The only solution is to stop the war and everyone will continue to do their job.
creoengine Developing and deploying games is easy now Best Decentralised platform for game developers and also serves for developing games and NFT Marketplace provider TGE & IDO ON MARCH 2022 Pre-Public Sale on 8-15March More: Creo_engine creo bsc btc AltcoinDailyio hh
Lies 🤣🤣🤣
I am amazed at the speed at which banks have managed to cancel russia. They have a lot of power, don’t they?
I see Bitcoin as ultimately a reserve currency for banks, playing much the same role as gold did in the early days of banking. So i advise you buy & trade for the future,i personally trade with signals from bernie_Doranfx & I've accumulated over 3BTC
I truly believe previous dip was to scare retail into selling, allowing institutions to buy cheaper, They were late to the game, they needed a better entry. Following bernie_Doranfx tweets, posts, tips and predictions I have added massively to my hold
♦️Would you like to join the RubyPlayNetwork’s Evangelist program?♦️ Here are some benefits that might interest you😎 ♦️Extra perks & rewards ♦️Early access to features ♦️Direct access to the RPN team ♦️So much more! Find out more on our REPS page!👇
Did you heard about Geometry Geobots? I got few at 3 now they are 8 SOL. Can not wait till they show the results when their cross-chain AMM with staking launch by end of this month. For sure a bluechip.
Checkout the amazing benefits of MatrixETF MatrixETF is the future of decentralized ETF platform supporting cross chain with great features! $MDF MatrixETF Crypto DeFi blockchain BSC
🌳SEKUYA x NEVERS🌳 PROUDLY TO ANNOUNCE 'NEVERS' WILL BE SEKUYA'S EXCLUSIVE WEARABLE DEVICES PARTNER!🎉 NEVERS is 1 Agency in ASIA focus on Developing 3D World, Wearable Devices & NFTs😱 JOIN US sekuyaofficial SITE: BNB Btc
Our goal is to buy a real island, and to build a metaverse island as well! Socialize, start a company for passive income, learn, build and even date in our Metaverse. All owned by the community! CrypyoIslandDAO Metaverse ETH CISLA CryptoIsland
Check this out.... eCash $XEC - the 'rebellious son of bitcoin'.. With Avalanche integration 💎. Is one of the best coin to HODL while it still under development ;) dyor eCashOfficial eCashInformer eCashtab
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Source: TheStarPhoenix - 🏆 253. / 63 Read more »
Source: CNBC - 🏆 12. / 72 Read more »