Russian Court Seizes German Banks' Assets Over Halted Gas Project

Seizures involve Deutsche Bank, Commerzbank, and UniCredit due to Western sanctions impacting a gas processing plant contract.

A St. Petersburg court ordered the seizure of Deutsche Bank and Commerzbank assets in Russia.
The lawsuit is tied to a halted gas processing plant project due to Western sanctions.
Deutsche Bank faces the seizure of €238.6 million in assets, including securities and real estate.
Commerzbank's seized assets are valued at €93.7 million, including its Moscow headquarters.
UniCredit also faces asset seizures worth €462.7 million in a parallel lawsuit.