Politicians tell banks to name clients trading Russian debt

DEMOCRATIC politicians have demanded Goldman Sachs and JP Morgan blow the whistle on clients trading Russian debt as they seek to expose whether Wall Street is profiting from the war in Ukraine.

US Senator Elizabeth Warren and Representative Katie Porter wrote to the chief executives of the two Wall Street behemoths, demanding lists of clients betting on Russian government and corporate debt since the war broke out in February, including the types, sizes and gains of any deals.

The politicians also asked for details about the two investment banks, including tallies of any trades they have handled as well as revenue generated.

Ms Warren and Ms Porter said: “We are seeking information on how your dealings could benefit Putin’s regime and how your institution may be profiting off of Russia’s invasion of Ukraine.”

JP Morgan and Goldman Sachs declined to comment about the letters, which were first reported by Bloomberg. Both banks decided to pull out of Russia when Mr Putin invaded Ukraine.