Goldman Sachs says it’s "winding down its business in Russia in compliance with regulatory and licensing requirements," two weeks after the country first invaded Ukraine.
Highlights
- Goldman Sachs and JPMorgan Chase are pulling out of Russia.
- Goldman Sachs is “winding down its business in compliance with regulatory and licensing requirements,” a spokesperson says.
- JPMorgan Chase continues to conduct limited business in the country.
- Western Union says it’s suspending operations in Russia and Belarus “in light of the ongoing tragic impact of Russia’s prolonged assault on Ukraine” The move comes a year after Citi announced that it would exit its consumer banking business in Russia, a dozen other countries, and other financial services companies say they’re working on exit strategies.
- The move marks Wall Street’s first major departures from Russia, joining a growing list of retailers, oil companies, cultural events and sporting competitions to suspend operations.