FRANKFURT, May 7 (Reuters) - A Moscow court has

authorized the seizure of some 12.4 million euros ($13.34

million) of assets held in Russia by a European subsidiary of

JPMorgan ( JPM ) and Germany's Commerzbank, it said in

a preliminary ruling.

The court made the ruling on April 26 in favour of a case

lodged by Russia's Transkapitalbank, a lender that came under

Western sanctions in the wake of Russia's invasion of Ukraine in

2022.

"The application is motivated by the fact that on April 20,

2022, sanctions were introduced against the plaintiff" by the

U.S. Treasury, the court document said.

Western banks and other companies have long worried about

their funds and property in Russia since the onset of the war

and retaliation by Russia after sanctions were imposed.

Russia has seized assets, installed new management at

Western companies' subsidiaries and forced departing firms to

sell at huge discounts in response to Western sanctions.

About 1,000 companies have exited the country. But hundreds

of companies including French retailer Auchan and Benetton are

still operating or have put business on hold there, according to

analysis by Yale School of Management.

Transkapitalbank didn't immediately respond to an emailed

questions about the case.

JPMorgan ( JPM ) and Commerzbank, which have both pared down their

footprint in Russia, declined to comment.

Interfax reported on the ruling last week and German media,

including Handelsblatt, this week reported the development.

($1 = 0.9296 euros)