Goldman Sachs is Shutting-Down its Operations in Russia, becoming the First Major Wall Street U.S. Bank to do so. The company said the move was "in compliance with regulatory and licensing requirements."
Russia is a small portion of the Bank's Business, with about $650 million of Credit exposure.
"Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements," the Bank said 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."
Some Bank Staffers were Relocated from Moscow to Dubai, at their request.
Coordinated Financial Sanctions by: US, EU, UK, and other Nations, are making it increasingly Difficult to conduct Business in Russia, and the Ruble has been in freefall against the dollar, since the Invasion began.
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