Russia to seize $440 million from J.P. Morgan
(ZEROHEDGE) – Seizing assets? Two can play at that game. Just days after Washington voted to authorize the REPO Act – paving the way for the Biden administration confiscate billions in Russian sovereign assets which sit in U.S. banks – it appears Moscow has a plan of its own (let's call it the REVERSE REPO Act) as a Russian court has ordered the seizure of $440 million from J.P. Morgan.
The seizure order follows from Kremlin-run lender VTB launching legal action against the largest U.S. bank to recoup money stuck under Washington’s sanctions regime.
As The FT reports, the order, published in the Russian court register on Wednesday, targets funds in J.P. Morgan’s accounts and shares in its Russian subsidiaries, according to the ruling issued by the arbitration court in St.
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