JPMorgan Chase is making preparations for the possibility of its assets being officially seized in Russia, as stated in a recent report. According to Reuters, the bank has filed a document indicating that lawsuits in Russian and US courts could lead to the seizure of its assets within the country. Just two weeks ago, a Russian court ruled in favor of state-run lender VTB Bank, supporting its efforts to recover $439.5 million that JPMorgan Chase allegedly froze in New York due to US sanctions. The court’s decision included an order to seize JPMorgan’s accounts in Russia, as well as all movable and immovable property. While JPMorgan has not disclosed the exact value of its assets in Russia, it has acknowledged that VTB’s claim exceeds the amount of capital the bank has in the country. In April 2022, following Russia’s invasion of Ukraine and the subsequent sanctions imposed by Western nations, JPMorgan decided to write off $1.46 billion in assets tied to Russia, including assets that were negatively affected by inflation. The majority of the bank’s exposure to Russia was concentrated in its investment banking division and asset management business. Jeremy Barnum, JPMorgan’s Chief Financial Officer, stated that the write-offs primarily consisted of assets tied to specific Russian companies, as well as some Russian-related derivatives.