Russia Freezes American Bank Assets

Russia has responded to the U.S. policy of freezing Russian assets by deciding to freeze the assets of JP Morgan Chase as a countermeasure. This was reported by the Chinese publication Sohu.

In an article by Li Yongfei, it is claimed that Russia has finally taken a step. The author argues that the U.S. will now find itself in a dire situation with no way to retreat.

“Seeing that the American JPMorgan Chase bank is preparing to flee Russia, the Russian court has decided to freeze all its assets located in the country,” the article states.

According to Sohu, the court's decision regarding the demand includes both movable and immovable property as well as shares of the American conglomerate's Russian subsidiary.

On April 24, the Arbitration Court of St. Petersburg partially satisfied VTB Bank's claim against JP Morgan Chase by imposing a lien on $439.5 million and on the assets of the credit institution in Russia.

Meanwhile, at the end of April, it was reported that major European banks still operating in Russia paid over 800 million euros in taxes to the country's budget in 2023, which, according to experts, is four times more than before the start of the Russian-Ukrainian conflict.