Russian court freezes assets of JP Morgan and Bank of New York ...News

Nearly $1 billion held by the two US financial institutions in the country have been arrested The Moscow Region arbitration court on Wednesday ordered a freeze on funds belonging to two US banking majors, JP Morgan Chase and The Bank of New York Mellon. The measure reportedly affected nearly 93.5 billion rubles ($1 billion) held by the institutions and their subsidiaries in the country. The interim measure has been taken under a case filed with the court by Russia’s Prosecutor General late last month. The filing is the latest in a string of cases revolving around the liquidation of the International Reserve Bank (

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