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...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn after state-owned lender VTB filed a lawsuit to “recover losses” from the largest US bank....
...VTB Bank, which has an investment banking operation based opposite the Bank of England, has been banned from paying or receiving rent since being hit with sanctions after Russia’s invasion of Ukraine....
...VTB said in a statement: “VTB Bank Europe continues to operate but is looking at ways to simplify its activities.” Additional reporting by Olaf Storbeck in Frankfurt...
...“Major banks have stopped working with Russian clients....
...In the past few months, western nations have been actively exploring ways to use the roughly $300bn in Russian central bank assets frozen after the invasion to fund Ukraine, as Republican resistance in Washington...
...ordered the temporary seizure of smaller stakes in other Russian companies owned by a Luxembourg-registered Goldman Sachs III SICAV fund.These assets include shares in leading Russian lenders Sberbank and VTB...
...Bucketloads of salt should be taken with the statements of Russian banks — VTB has also been boasting of its strong performance....
...The district, which is grouped on the embankment of the Moscow river on the western edge of the city, is home to leading Russian companies, such as VTB Bank and Norilsk Nickel....
...“Russian retail investors have always been about dividends,” said Sofya Donets, chief Russia economist at Renaissance Capital, a Moscow investment bank....
...VTB to convert roubles into US dollars....
...The US has also imposed sanctions on 17 subsidiaries of VTB, the Russian bank it hit with sanctions early in the war, and five members of the board of state-owned Russian Railways....
...The IQ-Quarter is part of the Moscow City business district, which stretches along the western edge of the city on the banks of the Moskva river and is home to leading Russian companies such as VTB Bank...
...the workings of the bank....
...The head of state-run VTB bank, which holds a minority stake in Yandex, said in June that the prospective deal overvalued the company and said Russia was better off seizing it “because they took everything...
...Most Russian banks, including the largest Sberbank and VTB, were kicked out of Europe last year. Raiffeisen acts as one of the remaining financial intermediaries between Europe and Russia....
...VTB, which once aspired to be a global investment bank modelled after Deutsche Bank, was Russia’s biggest capital markets player....
...While Andrea has been hopping through various financial hubs, Riccardo has (to the best of DD’s knowledge) stayed put in Moscow helping VTB Capital, the investment banking arm of Russia’s VTB Bank, become...
...VTB was hit by US sanctions on Thursday last week....
...Trafigura said the sale had received “all applicable bank and regulatory approvals”....
...The location enabled VTB to fly a huge Russian flag over the Bank of England, in a defiant gesture of financial expansion....
...Under Russian regulations, any Rosneft dividend payments would be made to “a specific restricted Russian bank account” and could not be transferred outside Russia without government approval, it added....
...The government has a majority stake in the lender, though smaller than its 60 per cent holding in VTB, the country’s second-largest bank....
...VTB Capital says it has been unable to find a bank that would allow it to open or operate an account and so cannot pay its debts as they fall due....
...Last week the LSE suspended the membership of VTB Capital, the bank’s trading arm....
...VTB’s London operation, which once employed more than 500 people in a City of London office overlooking the Bank of England, has dwindled to 120 staff....
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