The bank’s CEO believes that the U.S. should be prepared for “unpredictable consequences.”

JPMorgan Chase, one of the largest American banks, announced the possible loss of $1 billion as a result of the consequences of the Russian special operation in Ukraine. The corresponding opinion was expressed in his letter to the shareholders of the financial giant by its CEO James Dimon. Excerpts from the message are quoted on Monday by Reuters.

The Chairman of the Board of Directors did not go into details on the amounts, did not specify a time frame, but expressed concerns about the secondary consequences that the special operation of the Russian Federation in Ukraine could have on companies and countries.

“The United States must be prepared for the expansion of the scale of the war in Ukraine and unpredictable consequences. We will hope for the best, but prepare for the worst,” the agency quotes Dimon as saying.