Brian Moynihan Imposing His Own Sanctions On Russia

Author:
Updated:
Original:

The amount of money Bank of America stands to lose if Vladimir Putin continues to be Vladimir Putin is getting smaller and smaller every quarter.

The bank said in a regulatory filing late Tuesday that its net exposure to Russia stood at $3.94 billion, down more than 40% from $6.72 billion at the end of December and down from $5.21 billion at the end of March.

The bank repeated language it used in a regulatory filing in early May, citing geopolitical tension caused by "Russian intervention in Ukraine." The U.S. and the European Union adopted broad economic sanctions against Russia on Tuesday, including against its banks and oil industry.

Bank of America Continues to Slash Exposure to Russia [WSJ]

Related