Deutsche Bank, Commerzbank Slammed With $348M Suit By Russian Gas Giant Subsidiary: Report

Deutsche Bank AG DB and Commerzbank AG CRZBF CRZBY is slammed by a lawsuit worth ₽31 billion ($348 million) by RusKhimAlyans, a Russian gas giant Gazprom's subsidiary. 

In particular, RusKhimAlyans is asking for over ₽22 billion from Deutsche Bank and over ₽8 billion from Commerzbank, Reuters reported citing documents filed at the Court of Arbitration of St Petersburg and the Leningrad Region.

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Further details are not available on the case.

Last month, Deutsche Bank stated identified a shortfall in the shares backing the bank's depositary receipts (DRs) allocated before the Ukraine invasion, which has been held in Russia by a different depositary bank.

Price Action: DB shares are trading lower by 3.09% at $10.35 premarket on the last check Wednesday.