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Chris Bruce

Volkswagen Assets Frozen In Russia Over Contract Dispute

Russia Volkswagen Ford

Lots of automakers are fleeing the Russian market. Volkswagen is among them, but it is now facing a problem. A court in the country froze all of the company's assets there, according to Reuters.

The dispute is because the Russian automotive manufacturer GAZ has a contract to produce VW vehicles in Nizhny Novgorod. Volkswagen ended its agreement with the firm in August. GAZ responded by suing for the equivalent of $201.3 million for allegedly breaking their arrangement.

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