Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
Ex-premier says initiative to impeach Poroshenko stems from Ukraine’s economy collapseWorld June 23, 20:20
This week in photos: Confederations Cup opening and summer solstice celebrationsSociety & Culture June 23, 19:11
Turkish ambassador to Russia: Moscow and Ankara to join efforts in war on terrorWorld June 23, 18:45
Ukraine’s finance ministry files appeal to London Court against Russia in $3 bln debt caseBusiness & Economy June 23, 18:42
Ukrainian society tired of Poroshenko’s policy — expertRussian Politics & Diplomacy June 23, 17:58
Deutsche Welle sees Russian international broadcasters as threat to European ideasWorld June 23, 17:34
Watchdog claims Telegram provides means of communication to terroristsBusiness & Economy June 23, 16:45
MOSCOW, December 8. /TASS/. The shares in the Russian oil producer Bashneft, owned by tycoon Vladimir Yevtushenkov’s AFK Sistema, return to the state on Monday.
This comes in line with the ruling of Moscow’s Arbitration Court in favor of the Prosecutor General’s Office that the privatization in the early 2000s of Bashneft, which now ranks among Russia’s top-five oil refining companies, was illegal.
The defendants were private owners of the oil company — AFK Sistema of Yevtushenkov, currently under house arrest, its investment arm Sistema-invest and Bashneft proper.
Under the court ruling, which takes effect 30 days after proclamation in early November, some 81.7% of Bashneft’s shares will pass into the ownership of the state. Another 20% of shares are in free-float.
Russia’s Audit Chamber earlier said the privatization of Bashneft, which was sold to Russian conglomerate company Sistema in 2009, was “the most unprecedented case of seizing assets owned by the state.”
The investigation, which was launched following checks, produced no result in May 2010, but was resumed earlier this year. In 2013, Bashneft produced over 16 million tons of oil, earning more than $10 billion.
Following the registration with the Russian property fund Rosimushchestvo, which manages state-owned assets, the government will consider a possibility of including the oil company into the privatization program.