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You are here: Home / ukraine subreddit / JP Morgan could lose up to $1bn through exposure to Russia, says boss

Apr 04 2022

JP Morgan could lose up to $1bn through exposure to Russia, says boss

Jamie Dimon calls on US to launch new ‘Marshall plan’ to ensure energy supply in response to war in Ukraine

Russia-Ukraine war – latest updates

The JP Morgan chief executive, Jamie Dimon, has warned that the US bank could lose up to $1bn (£763m) from its exposure to Russia, as he called on the US government to deploy more troops, restructure supply chains and launch a new “Marshall plan” to ensure energy supply in response to the war in Ukraine.

In his widely read annual letter to investors, Dimon urged Joe Biden’s administration to take a stronger stance against the “grave new geopolitical realities” emerging after Russia’s invasion of Ukraine, saying it was up to democratic nations to take a stand “against all forms of evil”.

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