In response, J.P. Morgan filed a lawsuit against VTB, demanding an end to its request for the 440 million dollars. The claim was submitted to the federal court in Manhattan. J.P. Morgan asserted that VTB had agreed to the account management terms when it opened a correspondent account for transaction processing in 2008. Under the terms, the account would be governed by U.S. laws and could be frozen if required due to sanctions.
VTB was subjected to sanctions by the United States, Britain, and the EU in the spring of 2022. The sanctions involve asset freezes and a prohibition of transactions with these assets by individuals and legal entities from those countries.
SANGHA KOMMUNE (SSR) 