Volkswagen has been trying to sell its Russian assets, including its flagship plant in the city of Kaluga, which has been furloughed since March 2022.
A Russian court on Monday froze allassets in Russia, in the latest obstacle to the German carmaker's year-long efforts to wind down its Russian operations.
Volkswagen has been trying to sell its Russian assets, including its flagship plant in the city of Kaluga, which has production capacity of 225,000 vehicles a year and has been furloughed since March 2022. In court filings, GAZ said Volkswagen's attempts to exit the Russian market put its own interests at risk and it is seeking 15.6 billion roubles in damages over the terminated contract.
Foreign investors have feared Russia could move to nationalize strategic assets since the restrictions on sales were brought in.
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