According to today’s Russian television on April 28th, a court in St. Petersburg, Russia recently ordered the freezing of assets of JPMorgan Chase Bank in Russia.
According to reports, this move stems from a lawsuit initiated by the Russian Federal Foreign Trade Bank in a Russian court aimed at recovering nearly $440 million of funds frozen overseas by the bank due to US sanctions. At present, the Russian court has ordered the seizure of JPMorgan Chase’s assets in Russia and the shares of its Russian subsidiaries.
Previously, when the Russian Federal Foreign Trade Bank filed a lawsuit, JPMorgan Chase also filed a lawsuit in a US court to prevent its assets from being seized.
On the 20th of this month, the US House of Representatives passed a bill allowing the US government to confiscate frozen Russian assets in the US and use them to support Ukraine. Russian presidential press secretary Peskov subsequently responded that once Russia’s frozen assets are confiscated, the United States must take responsibility for it.