On Wednesday, the Moscow Arbitration Court approved a request to freeze funds amounting to approximately $375 million held by prominent American banks, including JP Morgan Chase and the Bank of New York Mellon. This decision stems from a petition submitted by the Deputy Prosecutor of Russia, aimed at protecting the financial interests of the Russian state.
The legal action is closely tied to the ongoing situation with MR Bank, a Ukrainian subsidiary of Russia’s Sberbank. The National Bank of Ukraine has expressed intentions to revoke MR Bank’s license and dissolve the entity by 2025. Russian authorities have raised concerns over what they claim to be the unjust expropriation of assets belonging to MR Bank. As a result, Russian prosecutors have initiated lawsuits against Ukrainian regulators and the involved U.S. banks, accusing them of unlawful actions that undermine Sberbank’s legal rights.
According to the lawsuits, Russian prosecutors argue that funds amounting to roughly $122 million held by JP Morgan Chase and another $253 million stored with the Bank of New York Mellon should be recognized as assets of Sberbank. They claim that these funds were wrongfully restricted, denying Sberbank and, by extension, the Russian government, access to the revenues and profits generated by MR Bank’s international operations.
The lawsuits emphasize that this restriction has led to a significant financial impact, as Sberbank has been deprived of proper judicial oversight over its Ukrainian subsidiary. This lack of control has effectively limited Sberbank’s ability to manage and benefit from the subsidiary’s earnings, further escalating the dispute between Russia and the involved financial institutions.
#Russia #RussiaCrypto #U.S.UnemploymentNewLow #usa #WeAreAllSatoshi
