JPMorgan & Chase has resigned as a depositary of global depositary receipts (GDR) of Russia’s largest oil producer Rosneft on May 13, the U.S. bank said on its website.
Last month, JPMorgan & Chase started to allow holders of depositary receipts in Russian companies to cancel them, two sources familiar with the matter said, giving some investors a way to liquidate what have largely been frozen holdings due to the conflict in Ukraine.
