Deutsche Bank Aktiengesellschaft (DB) and UniCredit are suing Linde (LIN) to recover losses tied to Western sanctions on Russia, the Financial Times reported Monday.
A Frankfurt court will hear Deutsche Bank's 260 million euros claim on Tuesday, the report said.
The dispute reportedly stems from guarantees issued for Linde's contracts on a Gazprom-backed gas project that was halted after Russia's 2022 invasion of Ukraine. Russian courts later seized bank assets after lenders refused to honor the guarantees, citing EU sanctions, it said.
Deutsche Bank, UniCredit, Commerzbank and Linde did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Comments