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JPMorgan Chase to seek explanation from US authorities over sanctions against Russia

JPMorgan Chase to seek explanation from US authorities over sanctions against Russia

NEW YORK, April 02. /ITAR-TASS/. JPMorgan Chase will seek explanation from the American authorities over sanctions that had earlier been introduced against Russia, the bank said in a statement on Tuesday in response to an ITAR-TASS request to explain the reasons for blocking by JPMorgan a transfer by Russia’s embassy in Astana, the capital of Kazakhstan, to Sogaz, an insurance company part-owned by Bank Rossiya, one of the targets of US sanctions announced on March 20.

“As with all US financial institutions that operate globally, we are subject to specific regulatory requirements,” says a statement forwarded by JPMorgan Chase spokeswoman Jennifer Zuccarelli. “We will continue to seek guidance from the US government on implementing their recent sanctions.” The bank declined further comment.

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