A Russian court cancelled the seizure of part of JPMorgan Chase's funds in Russia in a dispute with Russian state-owned bank VTB , according to a court document.

JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts.

A St. Petersburg court froze the Russian assets of JPMorgan Chase & Co. pending consideration of a lawsuit from the country’s second-largest bank that seeks to recover about $440 million.

JPMorgan Chase sued Russia's state-owned VTB Bank on Thursday to halt its efforts to recover $439.5 million from an account that was blocked after Russia invaded Ukraine and VTB was hit with sanctions.

The decision was published in the Russian court register on Wednesday. The court said it had ordered the seizure of all funds in JPMorgan’s accounts in Russia but not securities and other property including the domain jpmorgan.

The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.

Amidst the geopolitical chess game following Russia’s invasion of Ukraine, a Russian court has decisively ruled in favor of state-owned VTB Bank, sanctioning the seizure of a staggering $439.5 million from JPMorgan Chase.

A Russian court ordered the seizure of $439.5 million in funds from JPMorgan Chase’s bank accounts in Russia that the largest American lender froze after the Ukraine invasion, according to a court filing.

The continuing legal battle between JPMorgan Chase and VTB Bank serves as a prime example of how intricately financial considerations, geopolitical unrest, and international sanctions intersect.

T he recent ruling by a Russian court favoring VTB Bank, a state-run financial institution, in its legal dispute against JPMorgan Chase, one of the largest banks in the United Sta