JPMorgan Chase says its assets in Russia may be seized following lawsuits in Russia and the US.

JPMorgan Chase said its assets in Russia could be seized after lawsuits in Russian and U.S. courts, the bank said in a filing Wednesday.

The bank faces several legal challenges over its dealings with Russia after the United States and European nations imposed economic sanctions on Russia in response to its invasion of Ukraine.

The value of the claims and orders to freeze assets exceeds JPMorgan’s available assets in Russia, the largest US lender said. JPMorgan declined to comment beyond the filing.

A Russian court earlier this month ordered the seizure of funds in JPMorgan accounts after the Russian state bank sued to recover its funds blocked abroad.

Meanwhile, JPMorgan sued VTB Bank when the US lender tried to block VTB’s attempt to recover $439.5 million.

JPMorgan accused Russian courts of ignoring the bank’s contractual rights and obligations and ignoring its inability to make various payments due to sanctions laws.

A Russian court ordered a halt to JPMorgan’s lawsuit in New York.

JPMorgan said it is prohibited by US law from releasing funds to sanctioned companies, including VTB, which was placed on the US Treasury Department’s sanctions list in February 2022.

The move is unlikely to directly affect American consumers.

It is the latest example of American banks caught between Western sanctions against foreign regimes and interests.

JPMorgan, led by CEO Jamie Dimon, is the largest U.S. bank by assets.

In the two years since Russia’s invasion of Ukraine, the Biden administration has implemented sanctions, oil price caps and trade restrictions against Moscow.

Last month, President Biden signed a sweeping foreign aid bill into law that includes new powers for U.S. officials to locate and seize Russian assets in the United States. CNBC reported.

It also fueled an ongoing U.S. effort to convince European allies to release Russian state assets to help Ukraine.