A Russian court ordered to freeze the accounts of the American JPMorgan bank in Russia
A Russian court ordered to freeze the accounts of JPMorgan, the largest American bank in terms of assets, due to a legal dispute with the Russian VTB Bank.
The Leningrad District Arbitration Court issued a decision to freeze the accounts of JP Morgan Bank as a precautionary measure, after the Russian VTB Bank filed a lawsuit against the American bank.
The court decision led to the freezing of $439.5 million, which is the amount requested in the lawsuit filed by VTB against JP Morgan.
The Russian VTB Bank filed the lawsuit after JPMorgan froze its funds, citing sanctions imposed by the United States on the Russian bank as a result of the Ukrainian crisis.
