190 billion roubles of dividends can be confiscated from AFK "Sistema".

The worst fears have come true in the case of "Bashneft": the state is not only going to confiscate shares of the oil company from AFK "Sistema", but also wants to get paid the dividends on them. The Investigative Committee spokesman stated that AFK "Sistema" should return 190 billion roubles to the state. To pay this amount the company of Vladimir Yevtushenko will have to borrow or sell their best assets, RBK informs.

On Thursday a preliminary hearing on the lawsuit of the Prosecutor General's Office to AFK "Sistema" and "Sistema-Invest" was held, it demands the recovery of thes shares of "Bashneft" to the state (81.67%). Julia Malysheva, the representative of the Prosecutor General's Office, stated at the court that "Bashneft" is a state property, but was sold by the authorities of Bashkiria [in 2003] without the permission of the federal government of Russia. Therefore, the shares of the oil company are to be returned to the federal ownership. The representative of AFK "Sistema" opposed the claim.

Full text available to premium subscribers only.

Buy full access for 24 hours now


Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer