JPMorgan and Goldman Sach Close Business in Russia

US banks Goldman Sachs and JPMorgan announced the closure of business in Russia due to its invasion of Ukraine.

According to Reuters, Goldman Sachs announced the immediate closure of business in Russia in accordance with regulatory and licensing requirements.

The bank noted that the losses from this decision will be insignificant. At the end of 2021, Goldman Sachs’ total credit exposure in Russia was $650 million, with non-government counterparties or borrowers accounting for the majority of this amount.

The largest US bank in terms of assets, JPMorgan, also decided to completely curtail its activities in the Russian Federation. According to the statement, the decision was made in accordance with the directives of governments around the world.

Last year, the company received only $32.8 million in revenue from operations in the Russian Federation.

On February 24, Russia carried out a paramilitary invasion of Ukraine on several fronts, shelling Kharkiv, Kyiv, Sumy, Chernihiv, Vinnytsia and other cities of various calibres.

The Ukrainian army is holding back the invasion of the enemy. From the hottest spots, the civilian population is trying to evacuate to other cities or even countries.

The world community organized to help the refugees and the Ukrainian army. Only the crypto community has transferred billions of dollars to help Ukrainians.

The BTC-Alpha team together with trusted volunteer communities created a charity fund ‘‘Alpha for Ukraine’. You can make a donation to help everyone in Ukraine who needs medicines, humanitarian aid and to support the defence of the country.

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