PUTIN TO U.S : I CAN FREEZE ASSETS TOO – $400 MILLION WORTH

Mario Nawfal

@MarioNawfal
🇷🇺🇺🇸PUTIN TO U.S: I CAN FREEZE ASSETS TOO – $400 MILLION WORTH

In a high-stakes legal move, a St. Petersburg court has frozen JPMorgan Chase & Co.’s assets in Russia. Why? VTB Bank, Russia’s second-largest, claims JPMorgan owes them $440 million.

The court action stems from VTB’s allegations that JPMorgan was withdrawing its money from Russia, prompting a swift legal response to secure the funds.

VTB’s lawsuit, launched just last week, aims to claw back the hefty sum amid escalating financial tensions.

Source: Bloomberg

Mario Nawfal

@MarioNawfal
🚨🇺🇦BREAKING: HOUSE PASSES RUSSIAN FROZEN ASSET BILL TO RELEASE $300 MILLION FOR UKRAINE

The U.S House has approved the release of frozen assets of Russian oligarchs to fund future aid to Ukraine.

Moscow slams the asset grab as a dire threat to global finance, hinting at severe countermeasures.

“The United States must not act under an illusion… that Russia is clinging with both hands to diplomatic relations.”

The White House has unequivocally supported this bill.

PASSED: 360 to 58 votes.

Source: NBC