Volkswagen’s plans to pull out of Russia are now jeopardized after a court froze its assets in the country due to a pending lawsuit by sanctioned oligarch Oleg Deripaska’s Gaz Group, Patricia Nilsson and Anastasia Stognei of The Financial Times reports. Last year, Volkswagen announced it would stop making cars in Russia, including at its plant in Kaluga and its assembly plant in Nizhny Novgorod. Last week, Gaz filed the lawsuit against Volkswagen, disputing an agreement made between the two companies to end a collaboration originally set to run until 2025. In response, the court froze Volkswagen’s shares in its Russian subsidiary Volkswagen Rus, as well as several factories, manufacturing equipment, and shares in four financial services companies. Reference Link
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