Goldman Sachs Group Inc. and JPMorgan Chase are ceasing operations in Russia. This was one of Wall Street's first major departures from Russia, joining a growing list of companies from other sectors. “We are focused on supporting our clients around the world in managing or closing pre-existing obligations in the market and ensuring the well-being of our associates,” a spokesperson for Goldman Sachs said.
JPMorgan followed with their own statement: "As directed by governments around the world, we are in the process of divesting from our business in Russia and are not seeking new business." Citigroup and Deutsche Bank have also recently decided to join their Wall Street peers exiting operations in the country.
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