rosneft wins huge damages over bashneft deal
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Rosneft wins huge damages over Bashneft deal

Arab Today, arab today

Arab Today, arab today Rosneft wins huge damages over Bashneft deal

A Russian court on Wednesday
Moscow - Arab Today

A Russian court on Wednesday ordered private company Sistema to pay huge damages to state-controlled oil giant Rosneft over its controversial deal to acquire oil company Bashneft.

The regional court of Bashkortostan in southern Russia ruled in favour of Rosneft which was suing Bashneft's previous owner, private firm Sistema -- owned by tycoon Vladimir Yevtushenkov. It ordered Sistema to pay Rosneft 136 billion rubles ($2.3 billion).

Rosneft -- headed by Igor Sechin, a powerful ally of President Vladimir Putin -- had asked for a higher sum of 171 billion rubles but if the amount is upheld, it will be one of the largest ever awarded by a Russian court.

Bashneft, an oil producer based in the central city of Ufa, was privatised in the early 2000s. In 2014, a Moscow court ordered the nationalisation of a stake held by Sistema.

The billionaire Yevtushenkov spent several months under house arrest from December 2013 on money laundering charges. His case was likened to that of former Yukos chief Mikhail Khodorkovsky -- whose company was also snapped up by Rosneft.

Observers said Yevtushenkov's arrest marked a watershed for Russian business as it signaled that even tycoons loyal to the Kremlin were no longer immune from prosecution.

Yevtushenkov was released two months after Bashneft's nationalisation.

Rosneft then acquired Sistema's majority stake in Bashneft in 2016 for 329.69 billion rubles, then worth some $5.2 billion.

But Rosneft's lawsuit accused Sistema of carrying out a reorganisation of Bashneft before it came under Rosneft's control, causing it to suffer losses now.

The Bashneft deal is also at the heart of the case against former economy minister Alexei Ulyukayev, who is currently on trial for allegedly soliciting a massive bribe from Sechin in return for approving the deal.

Ulyukayev has denied soliciting the bribe, saying that he was caught up in a sting organised by the security services on the basis of testimony from Sechin.

According to the prosecution, Sechin personally handed Ulyukayev briefcases containing $2 million in cash at the Rosneft offices in a operation carried out with the FSB security service.

The prosecution has asked for Sechin to appear as a witness in the trial, which resumes September 1 after a dramatic first hearing this month in which Ulyukayev directly accused Sechin of setting him up

source:AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rosneft wins huge damages over bashneft deal rosneft wins huge damages over bashneft deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rosneft wins huge damages over bashneft deal rosneft wins huge damages over bashneft deal

 



GMT 01:34 2017 Sunday ,19 February

Dashti loses last hope to run in Kuwait’s elections

GMT 03:38 2017 Saturday ,18 November

England and Australia set for clash of the titans

GMT 08:21 2017 Monday ,06 March

Iran indicts nuclear negotiator, holds

GMT 09:14 2017 Sunday ,12 November

Crown Prince congratulates Moroccan King

GMT 12:33 2017 Monday ,07 August

European stocks buoyed by bright US jobs data

GMT 10:03 2017 Wednesday ,22 February

Actress Nadeen Najim confident of "Haiba" success

GMT 19:54 2017 Friday ,11 August

Credit Suisse bars trades on some Venezuelan bonds

GMT 20:14 2016 Tuesday ,18 October

Iran Air Force begins large-scale drills

GMT 05:29 2017 Thursday ,13 April

Greece completes sale of 14 airports

GMT 11:24 2017 Thursday ,06 April

Dora is absent from Ramadan Dramas

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90

GMT 01:35 2017 Wednesday ,09 August

Russia Foreign Minister to Visit Japan in Fall

GMT 14:19 2017 Thursday ,19 January

Hana Shiha started working in two new TV series

GMT 05:24 2016 Thursday ,23 June

Emirates Academy is a leading centre

GMT 16:01 2016 Thursday ,09 June

China’s imports fall slows in May

GMT 14:22 2017 Wednesday ,01 March

IOF demolish East Jerusalem home, displace 30 people

GMT 14:32 2013 Monday ,16 December

Window treatment ideas

GMT 07:07 2017 Wednesday ,20 December

New series of Narcos moves to Mexico

GMT 22:41 2017 Friday ,15 December

BOC celebrates National Day

GMT 06:04 2017 Tuesday ,24 January

KSA shines in Gulf, Kuwait bull run slows

GMT 21:20 2017 Monday ,03 April

EU condemns St.Petersburg explosions

GMT 00:45 2017 Tuesday ,05 September

Lebanese newspapers' headlines for 4/9/2017
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday