The court upheld the claim of the Russian bank VTB, which sought compensation for damages related to the blocking of its funds abroad.
In Russia, a court seized funds in a JPMorgan bank account worth $155.8 million based on the claims of the Russian bank VTB. Reuters reported this on Friday, October 11.
It was noted that in this way the court satisfied the claim of VTB, which required compensation for damages related to the blocking of funds abroad.
The arrest was imposed on funds in any currency in all JPMorgan bank accounts, except for type C accounts, which can be transferred outside of Russia, according to the materials of the Arbitration Court of St. Petersburg.
The lawsuits were filed on October 7. VTB is seeking damages from nine defendants linked to JPMorgan, including its Russian subsidiary JPMorgan International.
JPMorgan, the largest US lender, has previously said the value of lawsuits against it and orders to freeze its assets exceeded the assets it has in Russia.
He did not specify the value of these assets and said that US sanctions prohibit him from releasing the funds.
Court hearings will take place in November.
We would like to remind you that in April of this year, the Arbitration Court of St. Petersburg the Russian assets of the largest US bank JP Morgan Chase following a claim by VTB for $439.5 million.
It was previously reported that the late Russian military head of the Wagner PMC, Evgeniy Prigozhin, secretly used Western banks, including JPMorgan, for payments to Wagner.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.