JPMorgan Chase, one of the largest banks in the United States, has taken legal action against russia's state-owned VTB Bank. At the heart of the dispute is a sum of $439.5 million, which remains frozen following Russia's invasion of Ukraine and subsequent sanctions imposed on VTB Bank.

JPMorgan Chase sues VTB Bank over frozen funds

The US imposed sanctions against Russian businesses, officials and individuals following Russia's annexation of Crimea in 2014

CEO of Russian bank asks Trump to lift sanctions at World Economic Forum

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JPMorgan Chase sues VTB Bank over frozen funds

CEO of Russian bank asks Trump to lift sanctions at World Economic Forum