JPMorgan Backs Away From The Brink With Russia

JPMorgan Chase & Co. (NYSE:JPM) has backed off its confrontation with the Russian government, ending a brief if tense standoff between a private corporation and a onetime nuclear superpower.

Confusion surrounds new Russian sanctions

At issue were sanctions placed on the Russian government by the US in retaliation for Russia’s invasion of Crimeria.

For its part Russia called the event "unacceptable, illegal and absurd" act of blocking the payment would have consequences for the U.S. Embassy in Russia, Reuters noted. “The confrontation threatened to further strain ties between Washington and Moscow, locked in the worst standoff since the...