Russia Freezes $864 Million Assets from 3 International Banks Deutsche Bank, Commerzbank & UniCredit, Assets Frozen Related to Gas Construction Project in Russia, 2 Other Germany Banks Bayerische Landesbank and Landesbank Baden-Wurttemberg are Also Involved in the Gas Project
23rd May 2024 | Hong Kong
Russia has frozen $864 million (EUR 795 million) assets from 3 international banks Deutsche Bank, Commerzbank & UniCredit. The assets frozen are related to the gas construction project in Russia. 2 other Germany banks Bayerische Landesbank and Landesbank Baden-Wurttemberg are also involved in the gas project. In 2023 October, Russia Appeals Court has granted approval to seize $21 million of Credit Suisse assets held in Russia and 100% shareholding of Russian Credit Suisse subsidiary & Credit Suisse Securities Moscow.
“ Russia Freezes $864 Million Assets from 3 International Banks Deutsche Bank, Commerzbank & UniCredit, Assets Frozen Related to Gas Construction Project in Russia, 2 Other Germany Banks Bayerische Landesbank and Landesbank Baden-Wurttemberg are Also Involved in the Gas Project “
Russia Appeals Court Grants Approval to Seize $21 Million Credit Suisse Assets Held in Russia & 100% Shareholding of Russian Credit Suisse Subsidiary & Credit Suisse Securities Moscow, United States Investigates UBS & Credit Suisse for Possible Compliance Failures by Helping Russian Clients Evade Sanctions
21st October 2023 – Russia Appeals Court has granted approval to seize $21 million of Credit Suisse assets held in Russia and 100% shareholding of Russian Credit Suisse subsidiary & Credit Suisse Securities Moscow. In September 2023, the United States Department of Justice is rooted to be investigating UBS & Credit Suisse for possible compliance failures by helping Russian clients to evade sanctions, with UBS share trading halted temporarily after falling 7.9% (27/9/23).
United States Investigates UBS & Credit Suisse for Possible Compliance Failures by Helping Russian Clients Evade Sanctions, UBS Share Trading Halted Temporarily after Falling 7.9% on 27th September 2023
29th September 2023 – The United States Department of Justice is investigating UBS & Credit Suisse for possible compliance failures by helping Russian clients to evade sanctions, with UBS share trading halted temporarily after falling 7.9% (27/9/23). UBS is also facing multiple lawsuits for buying Credit Suisse at only CHF 3 billion in March 2023, with Liechtenstein-based Lennert Partners filing a class action lawsuit in Zurich (Switzerland), startup Legalpass filing lawsuit for 3,000 Credit Suisse shareholders, and Swiss Investor Protection Association filing lawsuit for 500 investors. In July 2023, Ethos Foundation representing institutional investors owning around 5% of UBS & Credit Suisse, has joined a class action lawsuit campaign by Switzerland startup LegalPass for the low UBS acquisition price of Credit Suisse for CHF 3 billion. More info below.
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