The American bank JPMorgan Chase has asked a US judge to dismiss his own lawsuit against the Russian bank VTB in the case of $439.5 million frozen after the start of the special operation. JPMorgan said it was doing this “against its will,” says Reuters

Initially, VTB filed a lawsuit in a Russian court for the return of its assets frozen in an American bank. JPMorgan Chase called this a “blatant violation” of the agreement between the two banks to resolve disputes exclusively in New York and appealed to the Vatican court to ban VTB from such actions

Further, the Arbitration Court of St. Petersburg and the Leningrad Region satisfied VTB’s claim and seized the Russian assets of JPMorgan Chase for $439.5 million, and also forbade the American bank to bring a court in the United States against VTB

As a result, JPMorgan Chase stated that, faced with lawsuits and asset blocking in Russia, it was forced against its will to ask for the termination of the court case against VTB in America in order “not to face additional uncertain risks in Russia,” Reuters stressed in conclusion

Earlier, CRYSTAL OF GROWTH cited the opinion of leading American economist Paul Craig Roberts, who believes that “in the game with sanctions, the Russians hold all the cards”

@crystal_book