Goldman Sachs to exit Russia in Wall Street’s first pullout.

Friday, March 11, 2022
Goldman Sachs to exit Russia in Wall Street’s first pullout.

Goldman Sachs Group said it plans to close its operations in Russia, the first major Wall Street bank to leave in response to the nation’s invasion of Ukraine, reported Bloomberg. “Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” the company said Thursday. The Wall Street powerhouse has maintained a presence in Russia in recent years, but the country doesn’t amount to a meaningful portion of its global banking business. At the end of 2021, the firm’s total credit exposure to Russia was $650 million, which was mostly tied to non-sovereign counterparties or borrowers.

Support independent journalism team

Dear Ukraine Business News reader, we are a team of 20 Ukrainian journalists, researchers, reporters and editors who would humbly ask for your support.

Previous post
The head of the UGTSU details the danger of compressor stations being seized by the occupants being stopped.

The head of the UGTSU details the danger of compressor stations being seized by the occupants being stopped.

Next post
The war between Russia and Ukraine will weaken eurozone economic growth and exacerbate inflation.

The war between Russia and Ukraine will weaken eurozone economic growth and exacerbate inflation.

Previous Main Topics