reports that GAZ filed legal papers demanding 15.6 billion roubles in damages, and a court has responded by freezing all of VW’s assets in Russia until the case is settled.
That decision is a major roadblock in Volkswagen’s attempts to sell off its assets and exit the country. Other automakers have already been forced to take big hit to get out. When Renault exited Russia last year it sold its stake in the country’s Autovaz to the Russian state for one single rouble – barely more than one U.S. cent – despite its assets having been previously valued at $2.35 billion.
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