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Ukraine seeks war crimes charges against JPM and Citi executivesgovernment adviser

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Ukraine is pursuing war crimes charges against executives of major Western banks, an official has said. Zelensky’s adviser, Oleg Ustenko, previously asked banks to stop funding Russian oil traders. Ustenko told CNBC on Tuesday that Ukraine was collecting data on banks and would pass it on to the ICC. Something is loading.

Ukraine is pursuing war crimes charges against the executives of JPMorgan Chase, Citigroup and other major Western banks for their alleged indirect financing of the Russian state, an economic adviser to Ukrainian President Volodymyr Zelenskyy said on Tuesday.

“There is no doubt that Russia is committing war crimes in Ukraine, against Ukrainians,” Oleg Ustenko, the adviser, said in an interview with CNBC. “In our logic, everyone who funds these war criminals doing these terrible things in Ukraine is also committing war crimes.”

Earlier this month, Ustenko wrote to JPMorgan Chase CEO Jamie Dimon and Citigroup and HSBC bosses, asking them to cut ties with companies that trade Russian oil and sell shares in oil companies and Russian gas companies such as Gazprom and Rosneft.

Ustenko said of the banks in his CNBC interview, “We’re going to sue, not maybe the companies, but the leaders of those companies.”

He added: “We have different options. The first option is definitely the ICC.”

Ustenko said Ukraine’s justice and security services were collecting information on the banks’ activities which would be passed on to the International Criminal Court.

The ICC has the power to prosecute people but not entities.

In his letters to bank CEOs, which were seen by the Financial Times, Ustenko accused the banks of “prolonging” the war in Ukraine.

JPMorgan provides credit to Vitol, which trades Russian oil, and the bank’s Russian securities investment trust owns shares in Rosneft, Sberbank and Gazprom, Ustenko said in his letter to Dimon, according to the Financial Times. HSBC’s asset management arm also has stakes in Gazprom and Rosneft, and Citigroup extends credit to Vitol and Russian energy giant Lukoil, according to the letters, according to the Financial Times.

JPMorgan, HSBC and Citigroup did not immediately respond to Insider’s requests for comment.

Citi told the Financial Times that it had reduced its activities in Russia. JPMorgan told the publication that it helped implement sanctions against Russia.

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