From CNBC: 2024-04-24 18:24:46

JPMorgan Chase CEO Jamie Dimon faces Senate scrutiny over Wall Street firms. Russian court orders seizure of $439.5 million from JPMorgan frozen in U.S. accounts post-Ukraine invasion. VTB Bank seeks compensation in a St. Petersburg court as JPMorgan plans to exit Russia. Biden signs foreign aid bill to locate and seize Russian assets in the U.S.

JPMorgan faces potential half-billion-dollar loss as VTB seeks compensation in Russian court. American bank argues that U.S. law prevents release of frozen funds. JPMorgan asserts Russian courts have favored Russian lenders in similar cases. Bank faces “certain and irreparable harm” from VTB’s actions. Various American sanctions against Russia amid Ukraine conflict.

Russian court sides with VTB Bank in $439.5M dispute with JPMorgan. Court orders seizure of JPMorgan’s Russian assets and frozen funds in U.S. VTB seeks compensation for frozen assets following Ukraine invasion. Biden signs foreign aid bill to target and seize Russian assets. American banks caught between Western sanctions and overseas interests.

Read more: JPMorgan in U.S-Russia sanctions war after overseas court orders $440M seized from bank