ALL NEWS

Goldman Sachs is getting out of Russia, is first such bank to do so

Mar 10, 2022, 8:16 AM
Goldman Sachs Ukraine Russia...
The headquarters of Goldman Sachs is pictured on April 17, 2019 in New York City. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE /AFP via Getty Images)
(Photo by JOHANNES EISELE /AFP via Getty Images)
Originally Published: 10 MAR 22 09:40 ET

(CNN) — Goldman Sachs is exiting Russia, becoming the first major Wall Street bank to announce plans to do so after the invasion of Ukraine.

“Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” a Goldman Sachs spokesperson told CNN on Thursday.

Related: US VP Harris supports call for war crimes probe of Russia

The decision by Wall Street’s most influential firm to get out of Russia deals another financial blow to Moscow. News of Goldman’s exit from Russia was previously reported by Bloomberg.

“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,” the Goldman Sachs spokesperson said.

It’s not immediately clear how many people Goldman Sachs employs in Russia nor how much money the firm makes there.

Related: Utah Jazz Foundation will fund 32,200 nights of housing for refugees

Citigroup confirmed on Wednesday that it is continuing its previously announced efforts to exit its consumer business in Russia. Citi said it is operating that consumer business “on a more limited basis given current circumstances and obligations.”

Citi said it is supporting corporate clients in Russia, including many American and European multinational corporations, as they suspend or unwind their business there.

The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Today’s Top Stories

All News

The Nephi City Police said in a Facebook post that a man was luring children to his vehicle yesterd...
Waverly Golden

Be on lookout for suspicious vehicle in Nephi

The Nephi City Police said in a Facebook post that a man was luring children to his vehicle yesterday afternoon.
17 hours ago
Aaron Fotheringham, aka "Wheelz" from Nitro Circus taught and performed tricks at Wheelchair Palooz...
Waverly Golden

Wheelchair Palooza at Woodward Park City

Aaron Fotheringham, aka "Wheelz" from Nitro Circus taught and performed tricks at Wheelchair Palooza in Park City.
17 hours ago
Semi CAX...
Simone Seikaly

Two-vehicle crash involving a semi closes Highway 138 on Friday

A two-vehicle crash involving a fuel truck on Friday morning closed Highway 138 in Tooele County.
17 hours ago
WWE Essential...
Zoe Sottile, CNN

John Cena breaks Make-A-Wish record after granting 650 wishes

Actor, wrestling legend, and perpetual meme subject John Cena has completed a new accomplishment: breaking the world record for most wishes granted through the Make-A-Wish Foundation.
17 hours ago
Follow @amandadickson...
Amanda Dickson

Time Out on the Field

One of my first jobs when I started at KSL in 1990 was running the board for BYU games, football and basketball.
17 hours ago
US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi "had a direct and honest ...
Jennifer Hansler, CNN

Blinken and Chinese Foreign Minister have ‘direct and honest exchange’ on Taiwan

Leaders from the United States and China have honest and direct exchange about Taiwan.
17 hours ago

Sponsored Articles

a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Goldman Sachs is getting out of Russia, is first such bank to do so