JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank
Publishing timestamp: 2024-04-24 18:24:46
Summary
A Russian court ruled in favor of VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase, which the American lender froze after the Ukraine invasion. The court ordered the seizure of funds in JPMorgan's Russian accounts and assets, including its stake in a Russian subsidiary. JPMorgan is caught between Western sanctions and overseas interests, facing potential losses for abiding by U.S. sanctions.
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Keywords: breaking news: investing, jpmorgan drn, breakingnewsglobal, breaking news: markets, business news, jamie dimon, investment strategy, united states, banks,