Russia's RusChemAlliance sues five European banks over aborted gas project, 17 September 2024

Russian company RusChemAlliance has filed new lawsuits against five European banks that stopped financing the construction of a gas project in Russia after the West imposed sanctions against Moscow over the 2022 invasion of Ukraine.

The lawsuits, all filed with St Petersburg's Arbitration Court...were addressed to Italian bank UniCredit and German lenders Deutsche Bank, Commerzbank, Bayerische Landesbank and Landesbank BadenWurttemberg, with no additional details given.

RusChemAlliance and Commerzbank declined to comment. The other banks did not immediately respond to requests for comment...