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.