A Russian court has ordered the seizure of funds from JPMorgan Chase bank accounts in Russia totaling $155.8 million, according to court filings, as Russian state-owned bank VTB seeks damages for funds blocked abroad.
The seizure was imposed on all JPMorgan bank accounts, regardless of currency, except for so-called type C accounts which cannot be transferred outside Russia, according to documents filed with the Arbitration Court of St. Petersburg.
The complaints were filed Oct. 7, according to the filings. VTB is seeking damages from nine defendants linked to JPMorgan, including its Russian subsidiary JPMorgan International.
JPMorgan and VTB did not immediately respond to requests for comment.
JPMorgan, the largest U.S. bank, previously said the value of complaints filed against it and orders to freeze its assets was greater than its available assets in Russia.
It did not specify the amount of these assets and said that US sanctions prohibited it from releasing funds.
In August, JPMorgan asked a U.S. judge in Manhattan to dismiss its complaint against VTB over a $439.5 million account frozen after Russia sent troops to Ukraine in February 2022, saying VTB had “forced” to request dismissal of the complaint.