JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts.
The bank faces several legal challenges over its Russian dealings after the U.S. and European nations imposed economic sanctions on Russia in response to its invasion of Ukraine.
The value of claims and orders to freeze assets exceeds JPMorgan’s available assets in Russia, the largest U.S. lender said. JPMorgan Chase did not specify the amount of its assets in Russia.
A Russian court last month ordered the seizure of funds in JPMorgan accounts after Russian state-owned bank VTB sued to regain its funds blocked abroad.
JPMorgan might lose a lot of money and/or investments because they didn’t think Putin would target them.
also because they ignored sanctions.
Yes, but that’s when they were delivering returns for their shareholders
This is why HSBC moves money for the cartels and mafias of the world. They ain’t gonna fuck with the people that hold their foreign assets.
Interesting bridge to burn and build from both ends
Fuck JPM and also sounds like Russia is a little desperate wonder why
Fuck JPMorgan!!
Ok.
What the fuck are you still doing there?! Sponsoring war? Hope they robbed you blind.
Well, tough shit. Maybe don’t invest in batshit insane dictatorships?
Then nobody would do business with the US.
This is why BRICS is so important. Get the stupid Americans out of the world finance systems.
BRICS is a joke. It’s really only RIC that matters and China controls the whole game. Even relations between China and India have been souring for the last half decade.
