AFK Sistema: Russian tycoon Yevtushenkov case dropped

MOSCOW, Jan 14 (PRIME) -- A criminal case against Russian businessman Vladimir Yevtushenkov, core owner of multi-industry holding AFK Sistema, has been dismissed, Sistema said in a statement Thursday.

“A criminal case concerning the majority shareholder and chairman of the board of directors of AFK Sistema Vladimir Yevtushenkov over of the fact of acquisition of stakes in companies, which are part of the fuel and energy assets of the Bashkortostan republic, was dismissed because of the absence of crime elements in his actions,” Sistema said.

Yevtushenkov was put under house arrest in 2014, charged of illegal privatization of the republic of Bashkortostan’s oil and gas assets in 90s, now comprising oil company Bashneft. Russia later nationalized a 73.94% stake in Bashneft.

In December 2014, Sistema filed a 70.7 billion ruble claim over the Bashneft privatization against former shareholder Ural-Invest which belongs to Ural Rakhimov and won it. Ural-Invest gave all its 47 billion ruble assets to Sistema.

(76.4275 rubles – U.S. $1)

End