The largest bank in the United States, JPMorgan Chase, said on May 2 its assets in Russia may be seized following lawsuits filed in Russia and the United States. In March, Russia's stated-owned VTB bank filed a lawsuit to regain its funds blocked abroad after JP Morgan Chase sued VTB in New York to halt its efforts to recover $439.5 million from an account that was blocked after Russia launched its ongoing invasion of Ukraine in 2022 and VTB was hit with sanctions. To read the full story by RFE/RL's Russian Service, click here.
JPMorgan's Assets In Russia May Be Seized
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