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⚡️Reuters: Russian court cancels confiscation of some JPMorgan assets in dispute with Russian bank. A Russian court canceled the seizure of some of JPMorgan funds in Russia as part of a lawsuit with the Russian state-owned bank VTB, Reuters reported on May 2.…
A Russian court canceled the seizure of a part of JP Morgan Chase’s funds in Russia in a lawsuit brought by VTB. VTB sued JP Morgan for $439.5 million, an amount blocked by the US bank in its correspondent account when VTB came under US sanctions https://t.co/W9m9UxgwWr https://t.co/4cJYYvSBD2
A Russian court cancelled the seizure of part of JPMorgan Chase's funds in Russia in a dispute with Russian state-owned bank VTB, according to a court document https://t.co/Xs4uUZviVD https://t.co/vt7Iilq9pR
JPMorgan Chase has reported that its assets in Russia may be at risk of seizure following lawsuits in both Russian and U.S. courts. The bank disclosed this information in a recent filing. Concurrently, a Russian court has recently overturned the seizure of a portion of JPMorgan's funds in Russia. This legal action was part of a dispute with the Russian state-owned bank VTB, which had previously sued JPMorgan for $439.5 million. The amount was blocked by JPMorgan in its correspondent account when VTB was subjected to U.S. sanctions.