Analyst believes removal of sanctions can be political bargaining chip with RussiaRussian Politics & Diplomacy January 18, 18:45
Arctic Forum’s task is to change perception of region as source of raw material — officialBusiness & Economy January 18, 18:28
OPEC revises Russia’s oil production outlook downward by 110,000 bpd in 2017Business & Economy January 18, 18:20
OSCE says preparations for talks on Transnistria to begin in near futureWorld January 18, 18:15
About 1,500 officials may attend Arctic ForumBusiness & Economy January 18, 17:38
Russia, Turkey conducting first joint air operation against Islamic StateMilitary & Defense January 18, 17:20
Austria as OSCE chair to strengthen monitor mission in Ukraine — top diplomatWorld January 18, 17:14
Russian food inflation declines threefold in 2016 — Central BankBusiness & Economy January 18, 17:01
Russian observers to monitor elections in France, SerbiaRussian Politics & Diplomacy January 18, 16:49
“We are not considering such proposals because no one made them to us,” Sechin said in response to a question about a possible purchase of Bashneft.
Market participants had long known about problems experienced by Bashneft, the Rosneft chief said.
Bashneft, a mid-sized oil company based in the Urals Republic of Bashkortostan, currently integrates the republic’s former energy companies which, as investigators say, were privatized with serious violations of law.
Bashneft is controlled by AFK Sistema holding company whose manager and owner Vladimir Yevtushenkov is currently under house arrest on charges of legalizing toxic funds received during the acquisition of Bashneft.
“It was known that there were privatization risks and risks of tax claims, that is, a criminal tail. And the market knew about these skeletons in the cupboard,” Sechin said. “I believe this is why we had never considered buying this asset,” the Rosneft chief said. “But Vladimir Yevtushenkov is a very wise man and an experienced entrepreneur. I believe he weighed all risks when taking a decision on the acquisition,” Sechin said.
The Rosneft head also said he hoped that this problem would be settled on the basis of law.
“We continue working with AFK Sistema. It is our communications operator. We receive infrastructure and logistics services from them. We are cooperating with the bank that is part of AFK Sistema Group. And this cooperation is beneficial and mutually advantageous,” Sechin said.