Petroswede Bankruptcy Inflicts Heavy Losses on Deutsche Bank and Owner Mohammed Al-Amoudi

Swedish oil company Petroswede, owned by billionaire Mohammed Al-Amoudi, has declared bankruptcy, resulting in significant financial losses estimated at up to 3 billion kronor. Despite the gravity of the bankruptcy, reports indicate that Al-Amoudi is unlikely to receive any compensation from the proceedings. The fallout also heavily impacts Deutsche Bank, which is expected to suffer a considerable financial blow although it anticipates a dividend payout in the billion-kronor range. This development marks a major financial setback within the Swedish oil sector connected to one of its prominent industry figures, highlighting the broader implications for involved financial institutions such as Deutsche Bank.