In Private, Bankers Discuss Nuclear War and Russian Trading Risk
- Firms publicly assure investors their direct exposure is small
- Banks scramble to implement sweeping new sanctions on Russia
A police car patrols near to Saint Basil's Cathedral on Red square in Moscow, Russia, on Feb. 24
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
International banks are talking publicly about how the business impact of Russia’s Ukraine invasion will be limited. In private, they’re debating the chances of nuclear conflict.
Goldman Sachs Group Inc. on Thursday put its clients on the phone with Alex Younger, ex-chief of Britain’s MI6 intelligence service and now an adviser to the Wall Street giant. It’s the first time in more than 30 years that the threat of nuclear confrontation is a real possibility, he said.