Alfa Bank estimates assets blocked in the US at $582 million – Kommersant
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Due to sanctions against Alfa Bank, $582 million was blocked in US credit institutions. Alfa Bank presented this figure in the materials of the lawsuit with a client of the credit institution, reports Interfax.
The agency clarifies that we are talking about lawsuit individual entrepreneur Svetlana Kartunova, who in November 2022, through the court, demanded Alfa Bank to return 2.8 million rubles. debt and interest for unlawful withholding of funds.
From the case materials it follows that Alfa Bank did not fully fulfill the client’s instructions to purchase foreign currency for 2.8 million rubles—the funds never arrived in the counterparty’s account. The money was transferred through the American correspondent bank JP Morgan Chase.
In its defense, Alfa Bank refers to force majeure circumstances that arose due to the imposition of sanctions against Russia and against the credit institution itself on April 6, 2022. The court of first instance and the court of appeal sided with the individual entrepreneur, but the Arbitration Court of the Moscow District overturned the decisions and referred the case to the next hearing. The hearing at the Moscow Arbitration Court will take place on November 14.
On April 6, 2022, Alfa Bank came under US blocking sanctions. February 25, 2023 credit institution added on the EU sanctions list. Previously, Alfa Bank did not specify the volume of assets blocked due to sanctions.
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