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Ukraine court recognizes Russia’s Transneft rights on oil transit pipeline

May 05, 2014, 15:27 UTC+3 ROVNO
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RIVNE, May 05. /ITAR-TASS/. Court in the western Ukrainian city of Rivne has recognized Russian oil joint stock company Transneft’s property rights on a 1,500km oil pipeline delivering oil transit supplies to Hungary, the court verdict available to ITAR-TASS said on Monday.

Transneft has earlier stated that Ukraine had been keeping the oil pipeline’s legal status unsettled artificially for the last few years. Since 2005, the Ukrainian Prosecutor General’s Office has been considering the case for recognizing Ukraine’s property right for this pipeline.

Russian government has established a state-controlled world largest oil pipeline company Transneft in 1993 for services in oil and oil product transportation through a pipeline network in Russia and other countries.

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