Russian Court Freezes JPMorgan Assets Under $440 Million Claim
by BNN Bloomberg
BNN Bloomberg— A St. Petersburg court froze the Russian assets of JPMorgan Chase & Co. pending consideration of a lawsuit from the country’s second-largest bank that seeks to recover about $440 million.
CNBC—JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank. The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.
Watcher Guru—Russia to Seize $440 Million from JPMorgan. Russia is set to seize $440 million from the largest US bank, JPMorgan Chase following a lawsuit from Russian lender, VTB.
Yahoo Finance—Russian court orders seizure of JPMorgan Chase funds in VTB lawsuit. A Russian court has ordered the seizure of funds in JPMorgan Chase bank accounts in Russia, court filings showed on Wednesday, in a lawsuit filed by state-owned bank VTB as it seeks to regain funds blocked abroad. JP Morgan Chase last week sued VTB in New York to halt its efforts to recover $439.5 million from an account that was blocked after Russia despatched its army to Ukraine in 2022 and VTB was hit with sanctions.