UniCredit's Russian Subsidiary Sues Bank
This is a news story, published by Yahoo Finance, that relates primarily to St Petersburg news.
St Petersburg news
For more St Petersburg news, you can click here:
more St Petersburg newsNews about Europe business & economics
For more Europe business & economics news, you can click here:
more Europe business & economics newsYahoo Finance news
For more news from Yahoo Finance, you can click here:
more news from Yahoo FinanceAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about Europe business & economics, you might also like this article about
guarantee package UniCredit Germany. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest UniCredit news, Italian bank news, news about Europe business & economics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
UniCredit GermanyReuters
•World
World
UniCredit's Russia unit sued German arm in RusChem court case

78% Informative
The dispute stems from a guarantee package UniCredit Germany issued for one of its clients, Linde , which due to sanctions had to halt work on a gas processing plant it was building for St Petersburg -based RusChemAlliance.
When the project was halted, Gazprom-backed RusChem moved to draw down the guarantees and had a Russian court enforce the payments when UniCredit refused to honour them.
Charges to fully cover risks from the case totalled 0.3 billion euros in fourth quarter alone.
VR Score
87
Informative language
92
Neutral language
78
Article tone
formal
Language
English
Language complexity
52
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links