MOSCOW, May 2 (Reuters) - A Russian court cancelled the

seizure of part of JPMorgan Chase's ( JPM ) funds in Russia in a

dispute with Russian state-owned bank VTB, according

to a court document.

JPMorgan ( JPM ) said in a filing on Wednesday that its assets in

Russia may be seized after lawsuits in Russian and U.S. courts.

The bank faces several legal challenges over its Russian

dealings after the U.S. and European nations imposed economic

sanctions on Russia in response to its invasion of Ukraine.

A Russian court last month ordered the seizure of funds in

JPMorgan ( JPM ) accounts after VTB sued to regain its funds blocked

abroad.

(Reporting by Elena Fabrichnaya; Writing by Anastasia

Teterevleva)