A court in the Russian city of St. Petersburg has ordered the seizing of assets of Germany’s Deutsche Bank and Commerzbank in the country, the Russia state news agency Tass says. The order is in response to a lawsuit over the planned construction of a liquefied natural gas terminal in the Baltic Sea. The banks were among the guarantors in the contract for building a gas processing plant by a multinational construction firm, Renaissance Heavy Industries, and German company Linde.
The cancellation came at the request of RusChemAlliance, a subsidiary of Russian gas giant Gazprom and the operator of the project, German news agency dpa reported. RusChemAlliance paid advances to Linde for the building of the plant. The company is claiming about 238.61 million euros against Deutsche Bank and 94.92 million euros against Commerzbank, according to dpa.
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