The conflict between Russia and Ukraine is still ongoing, and Russia’s willingness to maintain dialogue with Ukraine also means that there may be a ceasefire. Because of the conflict between Russia and Ukraine, many countries and companies have imposed sanctions on Russia. According to the latest news, Goldman Sachs announced that it will withdraw from the Russian market. What is going on? Let’s take a look at the specific situation.
On March 10, local time, a spokesman for Goldman Sachs Group, an American financial institution, confirmed that,Goldman Sachs is gradually withdrawing from its business in Russia in accordance with regulatory requirements, becoming the first major Wall Street bank to announce its withdrawal from Russia following the escalating conflict between Russia and Ukraine.The Wall Street giant has done business in Russia in recent years, but Russia doesn’t account for much of its global banking business. At the end of 2021, the company’s total credit exposure to Russia was $650 million, mostly related to non-sovereign counterparties or borrowers.
According to the data, Goldman Sachs Group, an international investment bank. Founded in 1869, Goldman Sachs Group is one of the oldest and largest investment banks in the world, headquartered in New York. On May 13, 2020, Goldman Sachs Group ranked 47th on the 2020 Forbes Global 2000 list. In July 2020, Forbes 2020 Top 100 Global Brand Values was released, and Goldman Sachs Group ranked 85th.
