Russian Court Seizes Deutsche Bank, Commerzbank Assets As Part Of Lawsuit

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A Russian court has ordered that Deutsche Bank's and Commerzbank's assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed. The banks were among the guarantor lenders under a contract for the construction of a gas processing plant in Russia with Germany's Linde, which was terminated due to Western sanctions. The lawsuits were filed by St Petersburg-based RusChemAlliance, a joint venture 50 percent owned by Russian gas giant Gazprom which is the operator of the project.