According to the Financial Times, the losses incurred in the Russian holdings of the largest largest fund manager in the world, BlackRock, exceed $ 17 billion.
In particular, at the end of January, its customers owned Russian assets worth more than $ 18.2 billion, but the closure of the Moscow market and international sanctions made the vast majority unsellable, causing BlackRock to write off their value.
The company suspended all purchases of Russian assets on February 28 and announced that its holdings in the country at the time had fallen to less than 0.01% of its total data.
A BlackRock spokesman said that on the same day, their total value had fallen to $ 1 billion, and that the decrease was due to a write-off, not a sale.
The huge loss of value reflects the impact of the Russian invasion not only on BlackRock but also on the wider financial system.
Source: Capital
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