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Russia freezes foreign bank assets after sanctions halt project

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An arbitration court in St Petersburg has frozen the assets of several banks in Russia, including Deutsche Bank, after the planned construction of a terminal, which the German bank had helped to guarantee, was cancelled. The court action was taken at the request of RusChimAllianz, a Gazprom subsidiary operating an LNG terminal on the Baltic Sea. The company is claiming €239 million ($260 million) against Deutsche Bank, according to a report by the Russian state news agency Tass on Saturday. The

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Petersburg , Sankt Peterburg , Russia , Germany , Italy , Ukraine , Russian , German , Italian , Baltic Sea , Landesbank Baden , Bayerische Landesbank , Gazprom , Commerzbank , Linde , Renaissance Heavy Industries , Deutsche Bank , Landesbank Baden W ,

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