{"id":7051,"date":"2025-12-04T12:00:00","date_gmt":"2025-12-04T20:00:00","guid":{"rendered":"http:\/\/54.162.83.219\/?p=7051"},"modified":"2025-12-03T17:44:23","modified_gmt":"2025-12-04T01:44:23","slug":"kb-kookmin-bank-loses-russian-court-mts-bank-frozen-funds","status":"publish","type":"post","link":"https:\/\/guru.today\/?p=7051","title":{"rendered":"KB Kookmin Bank Ordered by Russian Court to Unfreeze $109 Million for Sanctioned MTS Bank"},"content":{"rendered":"\n
\"\"
Photo=KB Kookmin Bank<\/figcaption><\/figure>\n\n\n\n

South Korean lender faces legal setback in Moscow over funds blocked following U.S. sanctions, as similar case proceeds against KEB Hana Bank.<\/p>\n\n\n\n

A Moscow court has ruled against South Korea\u2019s KB Kookmin Bank in a lawsuit brought by Russian MTS Bank, ordering the release of $109 million in frozen assets, the state-run news agency RIA Novosti reported.<\/p>\n\n\n\n

The ruling, dated December 4, marks a rare legal defeat for a major South Korean financial institution caught in the crosscurrents of international sanctions. KB Kookmin Bank had argued that jurisdiction for any legal challenge lay in South Korea, a claim the Moscow court rejected.<\/p>\n\n\n\n

The court partially limited the bank’s liability by dismissing MTS Bank’s claim for an additional $5.8 million in late-payment interest. This means KB Kookmin would be obligated to return only the principal amount should the ruling become final.<\/p>\n\n\n\n

The dispute stems from the decision by South Korean banks to freeze the accounts of several Russian financial institutions after the 2022 invasion of Ukraine. The move came after the U.S. Treasury\u2019s Office of Foreign Assets Control (OFAC) designated MTS Bank as a Specially Designated National (SDN). Banks that engage with SDN-listed entities risk exposure to stringent secondary sanctions.<\/p>\n\n\n\n

MTS Bank filed its lawsuit in November 2023 to reclaim the blocked funds.<\/p>\n\n\n\n

In a related case, KEB Hana Bank is also defending against a lawsuit in Russia after freezing $18.6 million belonging to MTS Bank. RIA Novosti reported that proceedings in the Hana Bank case are being conducted behind closed doors, with no ruling yet made public.<\/p>\n\n\n\n

The lawsuits highlight the complex legal challenges facing global banks operating in jurisdictions at odds with Western sanctions regimes, forcing them to navigate conflicting international pressures and legal systems.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean lender faces legal setback in Moscow over funds blocked following U.S. sanctions, as similar case proceeds<\/p>\n","protected":false},"author":6,"featured_media":7053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[38,28,54],"tags":[],"class_list":["post-7051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-stories","category-biz-beyond","category-top-section"],"yoast_head":"\nKB Kookmin Bank Loses Russian Court Case Over Frozen MTS Bank Funds<\/title>\n<meta name=\"description\" content=\"KB Kookmin Bank lost a Russian court case ordering it to release more than $109 million in frozen MTS Bank funds imposed under U.S.-aligned sanctions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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