Reported 3 months ago
A Russian court has frozen approximately $372 million in assets held by JP Morgan and the Bank of New York Mellon, linked to their Russian affiliates. This decision was made under the direction of Russia's deputy prosecutor, claiming a defense of federal interests after the Ukrainian Central Bank issued a license withdrawal to MR Bank, a subsidiary of Russia's Sberbank. The action was deemed to infringe upon the state's lawful interests, leading to the court's ruling.
Source: YAHOO