MOSCOW (Reuters) – A Russian court has ordered Deutsche Bank’s assets, accounts, property and shares to be seized in Russia as part of a lawsuit involving the German bank, according to court documents.
Deutsche Bank was one of the guarantor lenders in a contract to build a gas processing plant in Russia with German company Linde, which was terminated due to Western sanctions.
The complaint was filed by RusChemAlliance, a joint venture based in St. Petersburg, 50% owned by Russian gas giant Gazprom and operator of the project.
The St. Petersburg Arbitration Court banned Deutsche Bank from exercising its 100% stake in the authorized capital of its Russian subsidiary, as well as in the Deutsche Bank Technology Center LLC.
It also imposed the seizure of 238.6 million euros in securities, real estate and bank accounts of Deutsche Bank, as well as its Russian subsidiary and the Deutsche Bank Technology Center.
Deutsche Bank said it had already set aside around 260 million euros for the deal.
“We will have to see how this request will be implemented by Russian courts and assess the immediate operational impact in Russia,” the bank said in a statement.
On Friday, the Russian court ordered the seizure of assets, accounts and property of UniCredit, as well as the shares of two subsidiaries, in parallel proceedings.
(Reporting by Reuters, with Tom Sims in Frankfurt, French version Benjamin Mallet)
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