Bashkortostan govt demands 106 bln rbl redemption from Sistema

UFA, Jun 6 (PRIME) -- The government of the republic of Bashkortostan has demanded redemption of 106 billion rubles from multi-industry holding Sistema in favor of oil company Bashneft under a suit filed by oil major Rosneft, a representative of the region’s Ministry of Land and Property Relations said in a court on Tuesday.

In May, Rosneft filed the suit seeking to recover an alleged loss incurred by Sistema and its unit Sistema-Invest, which Rosneft believes were involved in asset stripping of Bashneft in 2009–2014, when they owned a controlling stake in the company. On May 24, Rosneft requested the Arbitration Court of the republic of Bashkortostan to raise claims under the suit to 170.6 billion rubles.

The representative told the court that the ministry is also a shareholder in Bashneft and asked the court to include the government of Bashkortostan into the case. “Our demands are identical to the claim of the claimant, but to the initial claims, before they were raised,” the representative said.

(56.6152 rubles – U.S. $1)

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