CEO says Rosneft may try to adjust Sistema’s compensation amount

XIAMEN, China, Sep 4 (PRIME) -- Russian oil major Rosneft is studying a decision of the Arbitration Court of the republic of Bashkortostan on a 170.6 billion ruble case against multi-industry holding Sistema and does not rule out demanding to revise the compensation amount by an appeal, CEO Igor Sechin told reporters on Monday.

Rosneft, the current owner of a controlling stake in oil company Bashneft, filed the suit against Sistema and its unit Sistema-Invest in May, seeking to recover a loss stemming from an alleged asset stripping at Bashneft by Sistema. The Arbitration Court of the republic of Bashkortostan ruled Sistema to pay 136.3 billion rubles to Rosneft and Bashneft, partially satisfying the suit.

Sechin said, “We are humbly accepting the court decision. But in terms of the discount which was made, we are studying the reasons which were assumed by the court and maybe we can adjust this in the court of next instance. We will monitor the development of the situation and analyze the arguments which the judge accepted reducing the amount of claim to 136 billion (rubles).”

(58.0557 rubles – U.S. $1)

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