JPMorgan Chase and Goldman Sachs have been asked by the US Congress to obtain information on the Russian debt transaction

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JPMorgan Chase and Goldman Sachs have been asked by the US Congress to obtain information on the Russian debt transaction

A JPMorgan spokesperson declined to comment on the letter beyond a statement made by the bank in April. “As a market-maker, we have been helping clients reduce their risks and manage their exposures to Russia in the secondary markets. None of the trades violate sanctions or benefit Russia,” the bank had then said.

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  • “This maneuvering is legal under the sanctions … however, it may undermine the work of the U.S. Treasury and the international community seeking to hold Putin to account,” Warren and Porter wrote. The West has imposed punitive sanctions on Russia in a bid to isolate the country after it invaded its neighbor. Both Goldman Sachs and JPMorgan said in March they were unwinding their Russian businesses.