Court freezes VW assets in legal battle with Russian car maker

A Russian court has frozen all local assets of German carmaker Volkswagen AG as part of a legal battle with Russian automaker GAZ international LLC, Reuters reported. Volkswagen is trying to sell all its local assets as part of its plan to exit Russia after its invasion of Ukraine. GAZ, which was contracted to manufacture Volkswagen vehicles, claimed that the German firm’s decision has put its own interests at risk and is seeking 15.6 billion Russian roubles ($201 million) in damages over their terminated contract.