Rosselkhozbank withdraws claim against JP Morgan Chase Bank – Kommersant

Rosselkhozbank applied to the Moscow Arbitration Court with a petition to withdraw the statement of claim against the American bank JP Morgan Chase Bank. This follows from card indexes arbitration cases.

Rosselkhozbank filed a lawsuit on November 20. The case was noted in the Arbitration Cases file “Vedomosti” November 21. Thus, two days after the publication of the material, the claim was withdrawn. The third party in the case was JP Morgan’s Russian subsidiary, JP Morgan Bank International Commercial Bank LLC. However, the essence of the claim is not indicated in the case.

Rosselkhozbank was disconnected from SWIFT as part of the sanctions. Reconnecting the bank to SWIFT was one of the main requirements of the grain deal, from which Russia eventually withdrew.

In April of this year, the US Treasury temporarily allowed JP Morgan to process payments for Rosselkhozbank as part of the “grain deal”, subject to strict control over transactions and allowing payments only for trading in agricultural products. In July, Russia withdrew from the grain deal, and in August the payment channel between Rosselkhozbank and JP Morgan was disconnected.

Anastasia Larina