Market Analysis
A recent court ruling in Russia has overturned the seizure of a portion of JPMorgan Chase's funds amidst a dispute with the state-owned bank VTB, as per official court records.
JPMorgan disclosed on Wednesday that its assets within Russia were at risk of being seized due to ongoing legal battles in both Russian and U.S. jurisdictions.
The bank finds itself entangled in multiple legal disputes concerning its operations in Russia, particularly in light of economic sanctions imposed by the U.S. and European countries following Russia's invasion of Ukraine.
Last month, a Russian court had authorized the seizure of funds held in JPMorgan accounts following a lawsuit by VTB seeking to retrieve blocked assets held abroad.
Paraphrasing text from "Reuters" all rights reserved by the original author.