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JPMorgan wins UK court order to block VTB's $156 million Russian lawsuits
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JPMorgan wins UK court order to block VTB's $156 million Russian lawsuits
Jun 5, 2025 5:17 AM

LONDON, June 5 (Reuters) - JPMorgan Chase ( JPM ) on

Thursday won its bid to block Russia's VTB Bank suing it in

Russia over nearly $156 million, in the latest case brought at

London's High Court to try and stop Russian litigation.

The U.S. lender took legal action in London last year after

VTB sued it in Russia, seeking $155.8 million after VTB was hit

by Western sanctions after Russia's invasion of Ukraine, which

prompted JPMorgan ( JPM ) to freeze VTB funds in various accounts.

JPMorgan ( JPM ) argued that VTB's Russian lawsuits were in breach

of their previous agreement to settle any disputes through

arbitration and applied for an anti-suit injunction in London,

to prevent VTB pursuing its case in Russia.

Judge David Foxton ruled in JPMorgan's ( JPM ) favour on Thursday,

saying in a written ruling that VTB's pursuit of its lawsuits in

Russia was "vexatious and oppressive".

JPMorgan ( JPM ) declined to comment. VTB Bank had no immediate

comment.

The dispute in London is just one strand of JPMorgan ( JPM ) and

VTB's legal battle, which has also prompted litigation in New

York.

JPMorgan ( JPM ) is the latest financial institution to turn to

courts in the West to try and stop litigation brought in Russia.

In February, UniCredit won a bid to overturn an

anti-suit injunction the Italian bank had obtained against a

subsidiary of Russian energy giant Gazprom, citing a

potential 250 million euro fine it faced in Russia.

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