Production of GAZ and VW in Nizhny Novgorod (archive)
After the end of the cooperation, GAZ sued VW for damages of the equivalent of around 490 million euros.
(Photo: Reuters)
Former Russian Volkswagen partner GAZ has failed in a lawsuit to freeze VW assets in Russia. The regional arbitration court of Nizhny Novgorod ruled this week that there is no evidence that VW would not meet its financial obligations if GAZ’s lawsuits were successful.
GAZ had sued VW for damages equivalent to around 490 million euros because VW had ended the cooperation in 2022 as part of the EU sanctions against Russia because of the Ukraine war. The Russian Volkswagen subsidiary had rejected the claims as unreasonable and expressed surprise because the partnership with GAZ had ended on mutually advantageous terms.
The assets also include the Kaluga plant south of Moscow, which Volkswagen intends to sell. A decision on this has not yet been made, and the Russian government has yet to give its approval.
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