Russian court imposes injunction on UniCredit’s assets

MOSCOW

A Russian court has imposed an injunction Friday on assets worth €463 million ($503 million) belonging to Italian-based UniCredit bank.

The Arbitration Court of St. Petersburg and Leningrad Region heard the case against UniCredit by the Gazprom-owned RusHimAlyans company.

The assets include securities, real estate and funds in the bank’s accounts, according to the court’s decision.

The Gazprom-owned company had previously filed lawsuits against Deutsche Bank and Commerzbank.

UniCredit was among the guarantors of a contract with Germany’s Linde for the construction of a natural gas processing plant in Russia, which was terminated due to sanctions.

• Gazprom
• RusHimAlyans
• UniCredit