JP Morgan boss: US should take stronger stance over Russia
by Kalyeena Makortoff Banking correspondent from US news | The Guardian on (#5XTN0)
Jamie Dimon says bank could lose $1bn from crisis and calls for new Marshall plan' to ensure energy supply
The JP Morgan chief executive, Jamie Dimon, has warned that the US bank could lose up to $1bn (763m) from its exposure to Russia, as he called on the US government to deploy more troops, restructure supply chains and launch a new Marshall plan" to ensure energy supply in response to the war in Ukraine.
In his widely read annual letter to investors, Dimon urged Joe Biden's administration to take a stronger stance against the grave new geopolitical realities" emerging after Russia's invasion of Ukraine, saying it was up to democratic nations to take a stand against all forms of evil".
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