According to messages in the press, the company is winding down its business in Russia but cautiously returned to the market for Russian government and corporate bonds and buy Russian debt. Due to the unilateral decisions of American financial institutions, servicing of Gazprombank correspondent accounts in US dollars at JPMorgan Chase Bank and Bank of New York Mellon will be terminated. In this regard, we ask clients not to use Gazprombank for cross-border transfers in US dollars starting from January 27 inclusive. The Russian subsidiary bank of the American JP Morgan Chase, which announced the winding down of its operations in the country back in March 2022, became the largest foreign investment bank in Russia in terms of assets at the end of January–September 2023. The bank's assets overall grew more than fourfold over the past two years. A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the largest US bank to recoup money stuck under Washington’s sanctions regime. JPMorgan Chase warns bank’s assets may be seized in Russia after $1,460,000,000 write-off.