Swiss firm muscles in on more Russian assets
Published 18 January, 2008, 11:18
A five percent stake in European aerospace giant EADS held by Russia's VEB bank has been frozen by court order, at the request of a Swiss firm in a legal battle with the Russian state.
Russian media reports have quoted a lawyer for Geneva based NOGA, saying the shares were frozen along with Russian accounts at a VEB unit earlier this week.
The EADS stake held by the bank is valued at just over a billion dollars.
NOGA claims it is owed $US 800 million by Russia's finance ministry from an oil for food deal in the early 1990s.
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