Russia has $2 billion tied up in JPMorgan bank due to the Justice Department sanctions that led it to freezing funds amid the war on Ukraine, The Wall Street Journal reported Sunday.
The DOJ is investigating Russia for having used the U.S. bank to circumvent war sanctions, leaving the $2 billion reportedly tied to Russia’s 2022 deal with a Turkey nuclear power plant in limbo, according to the Journal.
The Trump administration is now taking over and will be tasked with what to do about the investigation and what the future holds of the $2 billion. The U.S. had deemed Russia and Turkey were illegally transacting with the U.S. bank in a friendly country to evade war sanctions.
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