Asset Seizure Shock: Russian Court Freezes Hundreds of Billions in Lenders’ Funds Amid Gas Project Dispute
St. Petersburg, Russia – A recent court ruling in Russia has resulted in the freezing of assets belonging to Deutsche Bank and Commerzbank, two German financial institutions, in a lawsuit related to a gas project terminated due to Western sanctions. The project, which involved a gas processing plant construction in Russia with the German company Linde, led to the court’s decision to seize the banks’ assets, accounts, property, and shares. European banks have been steadily …