Fortune: Taiwan Is Closely Watching And Studying The Russia - Ukraine War
BlackRock funds have taken a $17 billion loss as a result of its Russian exposure since Putin’s invasion of Ukraine began in late February—and it’s not the only Western bank or asset manager set to take a sizable hit.
International banks are owed roughly $121 billion by Russia-linked entities, according to data from the Bank for International Settlements—and because of the recent decoupling of the West and Russia, clients may not get most of that money back. BlackRock’s clients held around $18.2 billion in exposure to Russia-linked assets as of the end of January, the firm revealed.
The world’s largest asset manager declined to break down its Russian assets for the Financial Times, but its largest Russian exchange-traded fund, the iShares MSCI Russia ETF, saw its value plummet from roughly $600 million at the end of 2021 to below $1 million this week.
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WNU Editor: International banks are going to lose tens of billions of dollars, and it is going to be a major hit. But I think it will be contained, albeit it is going to hurt a number of financial institutions and funds, BlackRock included
2 comments:
Couldn't have happened to a better hedge fund.
What choice is there? The cancer was already widespread, will take time and not a little pain to excise it. Putin is calling the shots as to how far we go to make the surgery successful.
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