RusChemAlliance files claims for 31 bln rubles against Deutsche Bank and Commerzbank

MOSCOW. July 4 (Interfax) - RusChemAlliance (RCA), a joint venture of Gazprom and RusGazDobycha, one of the operators for construction of the ethane gas processing complex in Ust-Luga, has filed claims for more than 31 billion rubles against major German banks, according to arbitration court file.

A claim for 22.223 billion rubles has been filed against Deutsche Bank AG with the St. Petersburg and Leningrad Region Arbitration Court. It was registered on June 27.

A claim for 8.726 billion rubles was filed against Commerzbank AG on June 29.

RCA and a consortium of Linde and Renaissance Heavy Industries signed an EPC contract in 2021 for the construction of a gas processing plant in the Leningrad region. RCA made an advance payment to Linde, but the latter notified the customer in May 2022 that the work had been suspended due to EU sanctions.

RCA has also said guarantor banks have not been able to honor their obligations because a payment to the Russian company might violate European sanctions.

The St. Petersburg and Leningrad Region Arbitration Court in March accepted a claim from RusChemAlliance against Linde for 1.1 billion euros. The court also ruled that Linde's assets in Russia be seized as an interim measure.