If Russia Defaults and/or loses the conflict with Ukraine, there is at least one U.S. bank that may eventually beg for a taxpayer bailout when their stock implodes.

April 5, 2022 2:14 pm by IWB

JPMorgan Chase ($JPM) is at the top of the list to hit bottom.

JPMorgan and Citibank agreed to handle negotiations with Russia regarding their debt payments. Russia had purportedly indicated they would make dollar-denominated payments on $2 billion due April 4.

It is now April 5th and there is no confirmation Moscow has made this payment. Moreover, most experts believe Russia will default on this payment and Russia has made threats against any entity that attempts to nationalize their businesses.