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JPMorgan says its Russia assets may be seized after lawsuits in Russia, US

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JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts.

A customer exits the lobby of JPMorgan Chase & Co. headquarters in New York May 14, 2012. REUTERS/Eduardo Munoz/File Photosaid in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts.

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.JPMorgan's Russian assets are worth less than VTB's claims alone, a source said. These assets could range from cash to real estate to office equipment. JPMorgan declined to comment beyond the filing.

JPMorgan said U.S. law prohibits it from releasing funds to sanctioned companies, including VTB, which was put on the U.S. Department of the Treasury's sanctions list in February 2022.

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