As JPMorgan follows Western directives in implementing sanctions against Russia, Dimon said he is not worried about direct exposure to the invading nation. However, the U.S.’s largest bank “could still lose about $1 billion over time,” he wrote Monday.
That’s far from the steepest loss a U.S. bank risks from ties to the country. Citi warned investors in February it had $9.8 billion in exposure to Russia at the end of 2021 — although an executive later clarified at an investor day the bank could lose “a little less than half of that” under a “severe stress scenario.”
