Goldman Sachs, a western bank had entered a binding agreement to exit Russia. This “is the first Big Bank” banks to get presidential Approval to exit the Russian Federation. Most Banks that have left still have assets in Russia like Citigroup with Nine Billion Dollars in assets. According to Moscow times Goldman Sachs was among 45 Foreign owned banks that Vladimir Putin barred from selling their shares without his approval after the invasion
Russia has imposed Financial restrictions that seem to be lifting under pressure of the new American administration in possible efforts to deescalate or just make Trump be willing to give less harsh terms for the peace agreement.
Russian economy has been suffering in the ways of banks with profits plummeting by 90% in 2022 (Kyiv independent) and has apparently stabilized the industry by regressing in Financial Freedom even further since the fall of the Soviet Union. The Kremlin seems to want to rely on less western assets for their economy and use more eastern assets.
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This is a very interesting read! Do you believe that Goldman Sachs will usher in the oligarch era and and more banks will sadly begin business with Russia?