American bank JPMorgan Chase asked a US judge to dismiss its lawsuit against Russian bank VTB over a frozen $439.5 million lawsuit, the agency reported. Reuters.
According to the publication, JPMorgan said it was forced to do this “against its will” due to the risks that could arise in Russia in case of violation of the ban. In June, the Arbitration Court of St. Petersburg and the Leningrad Region banned the American bank from initiating and pursuing proceedings abroad against VTB regarding the blocking of funds.
On April 18, JPMorgan Chase filed a lawsuit against VTB, demanding that the Russian bank stop trying to return $439.5 million from an account that was blocked after a special operation began and sanctions were imposed. The American bank claimed that VTB had filed a lawsuit against it in Russia the day before, demanding the return of the money; JPMorgan called this a “clear violation” of the two banks’ New York dispute resolution agreement.
The publication noted that VTB had previously agreed to resolve disputes in the U.S. rather than in Russia. However, a Russian court later banned JPMorgan from initiating and pursuing litigation against VTB abroad.
At the beginning of June, it was learned that he was there. named Grounds for review of the Central Bank’s lawsuit against the owner of Rost Bank
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