The regional court in Frankfurt, Germany, witnessed on Tuesday the start of a trial related to payments worth hundreds of millions of euros, in connection with a gas project in Russia.
Deutsche Bank is demanding that the German company Linde pay approximately 260 million euros due to non-compliance with a gas project in Russia.
The case stems from a massive project to build a gas processing plant near the Russian city of St. Petersburg, but Linde decided to unilaterally withdraw from the project due to Western sanctions, without committing to returning an advance payment exceeding $1.2 billion, prompting the Russian side to resort to the courts to recover its legitimate rights.
Court rulings were issued in Russia in favor of the local company, forcing the banks that guaranteed Linde to fulfill their obligations.
According to reports in the German newspaper Handelsblatt, the five guaranteeing banks suffered total losses approaching 1.11 billion euros.
