Deutsche Bank and UniCredit reportedly seek to recover hundreds of millions of euros after a Gazprom-linked gas project was scrapped due to EU sanctions
Major European banks are suing a German industrial group for hundreds of millions of euros over its withdrawal from a Russian gas project due to EU sanctions, the Financial Times reported on Monday.
The dispute centers on a €10 billion ($11.4 billion) gas processing plant in Ust-Luga near St. Petersburg, agreed in 2021 between Gazprom-linked RusChemAlliance (RCA) and a consortium that included German engineering company Linde. After receiving more than €1 billion in advance payments, Linde…
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