What is the core legal dispute between Deutsche Bank and Linde, and what amount is at stake?

The core legal dispute concerns Deutsche Bank's claim that Linde must reimburse it approximately €260 million for losses incurred after Russian courts seized the bank’s local assets following the collapse of a €10 billion gas project in Russia. This project involved Linde Engineering building gas processing and LNG facilities for RusChemAlliance, a Gazprom-backed venture near St. Petersburg, supported by advance-payment and performance guarantees issued by Deutsche Bank and other lenders in 2021. After EU sanctions were imposed following Russia’s invasion of Ukraine, Linde halted work on the project, and the banks refused to pay under the guarantees—citing sanction prohibitions—prompting Russian courts to seize about €1 billion of the lenders’ assets in Russia; Deutsche Bank alone reported €244 million of its Russian assets as confiscated.

What did the Frankfurt Regional Court indicate about its preliminary stance in the case, and what are the limitations of that indication?

At a hearing on Tuesday, Presiding Judge Corinna Distler of the Frankfurt Regional Court indicated the tribunal is 'inclined to side with Deutsche Bank' in its lawsuit against Linde, stating: 'The way we see it, it’s not necessarily the case that Deutsche Bank had to bear the risk,' and noting that 'both sides knew that things can get very arbitrary when you start a dispute with Russian companies.' However, she explicitly clarified that this view is preliminary and 'may still change after more deliberations,' and emphasized that any final ruling in the case would be subject to appeal.

Deutsche Bank May Win Russia-Sanctions Lawsuit Against Linde

Jul 14, 2026

A German court indicated it may rule in favor of Deutsche Bank in a €260 million dispute against industrial gases firm Linde over losses from a sanctioned Russian LNG project. The case stems from guarantees issued for a halted gas processing facility near St. Petersburg following EU sanctions on Russia.

bloomberg

2026-07-14

Deutsche Bank May Win Russia-Sanctions Lawsuit Against Linde

Deutsche Bank May Win Russia-Sanctions Lawsuit Against Linde

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