Goldman Sachs is leaving Russia, Ukraine and Belarus.
I think it is appropriate to recognize the sacrifice these larger corporations are making in leaving these countries. While diplomacy assists in setting up a path to enter a country and bring prosperity, there is still a lot of investment in real estate and the process of competently setting up a profit structure that provides shareholders their percentage.
I think we need to realize how there is a downside to doing the right thing for Wall Street. I can't fathom a guess to what it is costing a firm like Goldman to rip up their roots and move on.
I am sure the CEOs had great hopes for their venture into Russia, Ukraine and Belarus. It has had to be difficult bringing a team together to successfully rip up their roots and call it a failure to some extent in the face of blatant aggression by a Russian president they had come to trust.
It wasn't as though the recent past tells us anything except to proceed cautiously.
PUBLIC LAW 112–208—DEC. 14, 2012 (click here)
On December 7 (2020) —following years of debate (click here) among member states—the European Union finally adopted the European Magnitsky Act, establishing a global human rights sanctions regime that allows the EU to freeze the assets of, ban entry to, and prohibit dealings with human rights abusers wherever they may be located. The EU joins the United States, United Kingdom, and Canada, which have similar Magnitsky legislation. The European Magnitsky Act has some limitations, but if implemented and enforced consistently, it has the potential to make a large impact in the global fight against human rights abuse because of the opportunity it creates for the United States and Europe to coordinate their efforts together....
