Russia sanctions: Deutsche Bank and Linde end business ties
The dispute over a failed Russia deal has not only legal repercussions, but is also leading to a rift between the corporations. The first round could go in favor of the bank.
The relationship between German bank Deutsche Bank and industrial gases company Linde has deteriorated due to a dispute over a failed Russia project. Linde had to abandon the project, RusChemAlliance, due to Western sanctions, and now several banks, including Deutsche Bank, are suing Linde for guarantees provided for the project.
Deutsche Bank is seeking €260 million in damages, while Linde feels "betrayed" by the bank's actions and claims it did not handle the situation in a customer-friendly manner. The case is being closely watched by industry players as it may set a precedent for similar disputes related to sanctions.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
