Goldman Sachs says it's pulling out of Russia, the first major Wall Street bank to do so following Moscow's invasion of Ukraine.
Goldman Sachs says it's winding down its operations in Russia, Wall Street's first major departure from the country.Goldman Sachs Group, Inc. says it's shuttering its operations in Russia, two weeks after the country first invaded Ukraine.
"Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements," a spokesperson told NPR in a statement."We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market and ensuring the wellbeing of our people."that a portion of the investment bank's staff was temporarily relocating from Moscow to Dubai. Goldman Sachs has about 80 employees in Russia.
It added that its teams have been working to support Ukrainian customers in recent weeks by donating to humanitarian relief efforts and offering fee-free money transfer services.that it's operating its consumer banking business in Russia"on a more limited basis given current circumstances and obligations."that it would exit its consumer banking business in Russia and a dozen other countries.
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