“Goldman Sachs is winding down its business in Russia in compliance with licensing and regulatory requirements,” the company said in a statement Thursday.
“We are focused on supporting our clients around the world in the management or closing of pre-existing obligations in the market and guaranteeing the well-being of our people. […] In our role as market makers between buyers and sellers, we are helping our clients reduce their risk in Russian securities listed on the secondary market, without seeking to speculate.”
In its previous annual filing, the bank had disclosed a credit exposure to Russia of $650 million.
On Wednesday, Citigroup Inc. announced that it is also evaluating its operations in Russia, the US bank with the largest presence in this country.
