Russia's VTB Bank has won a court order to seize $439.5 million from JPMorgan Chase for freezing its funds after the Ukraine invasion. The order includes seizing JPMorgan's assets in Russia, including its stake in a Russian subsidiary. This move highlights tensions between Western sanctions and American banks' international operations. JPMorgan is caught in the middle and faces potential losses for complying with U.S. sanctions.
Political tensions between Iran and Israel are pushing up oil prices, outweighing the impact of supply and demand. An escalation of the conflict could severely disrupt oil flow through the Strait of Hormuz, driving prices even higher. Gold prices may fluctuate in the short term but continue to be supported by geopolitical uncertainties.
