JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company. As of December 31, 2021, JPMorgan Chase is the largest bank in the United States, the world's largest bank by market capitalization, and the fifth-largest bank in the world in terms of total assets.
Has a local affiliate serving legal entities. The United States gave JPMorgan (JPM.N) permission to process payments for agricultural exports via the Russian Agricultural Bank, but the arrangement was no substitute for reconnecting the bank to the SWIFT system. As Western companies and international investors rushed to exit Russia amid the Ukraine invasion and the sweeping sanctions that followed, they were desperate to swap their rubles for dollars. For currency traders at firms including Goldman Sachs, Citigroup and JPMorgan Chase & Co., it was easy money: They found a way to scoop up greenbacks at a low price and then sell them to those fleeing clients for a healthy markup without running afoul of sanctions, people with direct knowledge of the transactions said. Russian Agricultural Bank files lawsuit against JP Morgan.
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.
|November 23, 2023||How JP Morgan got out of Russian sanctions in New Jersey — for now|
|November 21, 2023||Russian Agricultural Bank files lawsuit against JP Morgan|
|November 16, 2023||Western investors spooked as Moscow mulls compulsory share purchase plan|
|September 21, 2023||The United States explained the closure of the JPMorgan bank's channel for payment with Russia for grain|
|September 05, 2023||JPMorgan has stopped processing payments for Russian grain exports|
|August 07, 2023||JPMorgan Stops Processing Payments For Russian Grain Exports|
|August 02, 2023||Against the background of the withdrawal of investors from the Russian Federation, the world's largest banks earned $6 billion last year from trading in the ruble|
|May 03, 2023||Exclusive: JPMorgan could process another 40 Russian grain export payments, sources say|
|April 26, 2023||US allowed JPMorgan payment route for Russian grain export|
|March 06, 2023||Dimon (JPMorgan's CEO) Says Ukraine War, China Relations Are His Top Concerns|
|January 24, 2023||Gazprombank asked not to make international transfers in dollars. Two American banks will refuse Gazprombank correspondent accounts necessary for transactions with this currency|
|January 13, 2023||Goldman and JPMorgan Diverge on Response to Richest Russian’s Sanctions|
|November 02, 2022||Letter sent by B4Ukraine to the company (no response provided)|
|September 21, 2022||JPMorgan Chase CEO Jamie Dimon clashes with Dem rep over Russia investments|
|August 15, 2022||JPMorgan, BofA Are Among Banks Moving Back Into Russian Bond Trading|
|March 10, 2022||JPMorgan is winding down its Russia operations amid widening business exodus over Ukraine war|