Swiss bank reveals how much Russian money it holds ...News

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Swiss bank reveals how much Russian money it holds
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UBS says its exposure to the sanctioned country is relatively small Swiss bank UBS is holding roughly $22 billion in invested assets for Russian clients. The figure was unveiled in the bank’s latest quarterly report on Tuesday. The money belongs to Russian residents potentially affected by sanctions placed on Moscow by the EU and Switzerland in connection with Russia’s military operation in Ukraine. This is the first time UBS, Switzerland’s largest financial institution and the largest private bank in the world, disclosed the proportion of assets it manages for Russians. According to the quarterly report, around 0

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