Russian court seizes Deutsche Bank assets as part of lawsuit
A Russian court has ordered the seizure of Deutsche Bank’s assets, accounts, property, and shares in Russia as part of a lawsuit related to a terminated contract for a gas processing plant. The lawsuit was filed by RusChemAlliance, a joint venture half-owned by Gazprom. The court also imposed the seizure of up to 238.6 million euros in securities, real estate, and bank accounts. Deutsche Bank had provisioned around 260 million for the case and is assessing the operational impact in Russia. UniCredit’s assets were also ordered to be seized in a parallel lawsuit.