The investment bank Goldman Sachs, as well as the largest US bank JPMorgan Chase and one of the world’s largest payment companies Western Union, have announced the closure of their operations in Russia, the BBC reports.
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Goldman Sachs has stated that it will cease operations in Russia in accordance with regulatory and licensing requirements.
The bank’s liabilities in Russia amounted to $ 650 million at the end of last year.
The closure was also announced by JP Morgan Chase, stating that it was “actively liquidating its business in Russia”, focusing on taking care of staff and helping global customers manage risks and meet obligations.
Meanwhile, Western Union has announced the cessation of operations not only in Russia but also in Belarus.
“Given the tragic consequences of Russia’s protracted attack on Ukraine, we have decided to suspend operations in Russia and Belarus,” Western Union said in a statement.
