Chancellor underlines need to economically isolate Vladimir Putin regime after invasion of Ukraine
New York-based BlackRock, the world’s biggest asset management firm, with more than $10tn in assets under management, has recorded $17bn in losses on Russian securities. It manages more than $18bn in Russian assets on behalf of clients – which were frozen on 28 February. The impact of western sanctions on markets, including the two-week shutdown of the Moscow stock exchange, has rendered the vast majority of those assets unsaleable.
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