Russian court imposes injunction on UniCredit's assets

Russian court imposes injunction on UniCredit's assets

Italy-based bank’s assets worth $503 million consist of securities, real estate, funds held in bank's accounts, says court decision

By Emre Gurkan Abay

MOSCOW (AA) - 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.

*Writing by Merve Berker


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