The Arbitration Court of the Moscow Region has taken a significant step by freezing $372 million in funds held in Russian financial institutions at the Bank of New York Mellon and JPMorgan Chase Bank. This decision was made following a request from the General Prosecutor’s Office.
A legal action was initiated against key Ukrainian entities, including the National Security and Defense Council of Ukraine, the National Bank of Ukraine, and the state enterprise “National Investment Fund of Ukraine,” along with two American banks. The lawsuit aimed to challenge the seizure of assets from Sberbank’s former Ukrainian subsidiary, International Reserve Bank (MRB), labeling it as unlawful. Notably, MRB had placed its funds in accounts at both the Bank of New York Mellon and JPMorgan Chase Bank.
In a noteworthy development, all Russian assets in Ukraine were transferred to the National Investment Fund of Ukraine earlier this year under government directives.
Furthermore, another legal battle unfolded in May when the Arbitration Court of St. Petersburg and Leningrad Region froze assets belonging to German Deutsche Bank. This action came as part of a lawsuit filed by Ruskhimalyans, project operators for a gas processing complex in Ust-Luga.
Link from theins.ru
