Russian court freezes Volkswagen assets in Russia

taketonews

MOSCOW (Reuters) – A Russian court froze all assets of the Wolfsburg-based carmaker Volkswagen in Russia on Monday.

This emerges from court documents that Reuters has seen. The Russian carmaker GAZ had sued VW after the German group ended the cooperation in August. Until then, GAZ had produced vehicles for VW at its plant in Nizhny Novgorod. The company estimated the damage at almost 16 billion rubles (equivalent to 194 million euros).

After the Russian attack on Ukraine, Volkswagen put its operations in Russia on hold and is currently trying to sell its plant in Kaluga, south of Moscow. The facility, which has a capacity of 225,000 vehicles per year, has been idle since March 2022.

(Reuters report, written by Christina Amann, edited by Ralf Banser. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for companies and markets)

Selected leverage products on Porsche Automobil Holding SE VzWith knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired lever and we will show you suitable open-end products on Porsche Automobil Holding SE Vz

Leverage must be between 2 and 20

No data

ttn-28