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Published 2 months ago

Russian court orders seizure of Deutsche Bank assets

  • A court in St. Petersburg has ordered the seizing of assets of Germany's Deutsche Bank and Commerzbank in Russia, related to a lawsuit over a planned Baltic Sea LNG terminal.
  • The seizure stems from the cancellation of a gas processing plant project after Western sanctions, leading the banks to withdraw their guarantees.
  • The banks were guarantors in the contract for the project with Renaissance Heavy Industries and German company Linde.
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