Russia Freezes Deutsche Bank, Commerzbank, UniCredit Assets
- Russian court froze assets under lawsuits totaling €1 billion
- Assets frozen under lawsuits filed by a Gazprom joint venture
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A Russian court has frozen the local assets of Germany’s Deutsche Bank AG and Commerzbank AG, and Italy’s UniCredit SpA under lawsuits totaling over €1 billion ($1.09 billion) filed by a Gazprom PJSC venture.
The Arbitration Court of the St. Petersburg and Leningrad region arrested assets of Munich-registered UniCredit Bank AG and Moscow-based UniCredit Bank AO as part of the suit from RusKhimAlians, according to court documents dated May 16. Stakes in two other Russia-based related companies were frozen, along with real estate and cash in bank accounts.