MOSCOW: A Russian court has fined German automotive firm Volkswagen 16.9 billion rubles (about $191.5 million) in a lawsuit brought by Russian firm GAZ. A court in the Nizhny Novgorod province ruled on Tuesday that Volkswagen had caused material damage to GAZ. GAZ accused Volkswagen of failing to fulfill its obligations for production and parts deliveries under ongoing contracts and unilaterally terminating some others. Amid Western countries' sanctions on Russia and discouraging doing business with Moscow over the ongoing war on Ukraine, Volkswagen announced its withdrawal from the country in May 2023 and selling its assets in Russia to a local firm Russian Trade Minister Anton Alihanov announced on Monday that mass car production had started at Volkswagen's former plant in Kaluga. Source: Anadolu Agency
Russian court fines Volkswagen $191.5M
News For
RECENT POSTS
Geadi Demands Equal Treatment for Cypriot MEPs at EU-Turkey Meeting
October 20, 2026
Cyprus-Greece-Israel Electricity Project Completion Delayed to 2031
October 20, 2026
EU Parliament Approves Enhanced Passenger Rights Regulations
October 20, 2026
Cyprus Showcases FinTech Potential at US Blockchain Summit
October 20, 2026
Cyprus and France Formalize Cultural Cooperation Agreement
October 20, 2026