diff --git a/dlls/ole32/storage32.c b/dlls/ole32/storage32.c
index d68f09f639b..9f3930e956d 100644
--- a/dlls/ole32/storage32.c
+++ b/dlls/ole32/storage32.c
@@ -1230,7 +1230,8 @@ static HRESULT WINAPI StorageImpl_CreateStorage(
     /*
      * An element with this name already exists
      */
-    if (STGM_CREATE_MODE(grfMode) == STGM_CREATE)
+    if (STGM_CREATE_MODE(grfMode) == STGM_CREATE &&
+        STGM_ACCESS_MODE(This->base.openFlags) != STGM_READ)
       IStorage_DestroyElement(iface, pwcsName);
     else
     {
diff --git a/dlls/ole32/tests/storage32.c b/dlls/ole32/tests/storage32.c
index f932765521a..84c4b0fb4b2 100644
--- a/dlls/ole32/tests/storage32.c
+++ b/dlls/ole32/tests/storage32.c
@@ -1314,13 +1314,11 @@ void test_readonly(void)
             if (SUCCEEDED(hr))
                 IStream_Release(stream);
 
-#if 0 /* crashes on Wine */
             /* CreateStorage on read-only storage, name exists */
             hr = IStorage_CreateStorage( stg2, streamW, STGM_CREATE | STGM_SHARE_EXCLUSIVE | STGM_READ, 0, 0, &stg3 );
             ok(hr == STG_E_FILEALREADYEXISTS, "should fail, res=%x\n", hr);
             if (SUCCEEDED(hr))
                 IStream_Release(stg3);
-#endif
 
             /* CreateStorage on read-only storage, name does not exist */
             hr = IStorage_CreateStorage( stg2, storageW, STGM_CREATE | STGM_SHARE_EXCLUSIVE | STGM_READ, 0, 0, &stg3 );