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Russia's Bashneft oil company becomes state property — source

December 09, 2014, 19:14 UTC+3 MOSCOW
The oil company may be privatized again later
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© EPA/YURI KOCHETKOV

MOSCOW, December 9. /TASS/. Russian oil company Bashneft is returned to the government, a representative for the Federal State Property Management Agency and a source from the government’s economic block told PRIME Tuesday.

On Monday, a decision of the Moscow Arbitration Court to nationalize a 81.7% common share stake and a 20.8% preferred share stake in Bashneft, which earlier belonged to multi-industry holding AFK Sistema, came in force.

In September, the Prosecutor General’s Office filed a claim on violations during privatization of the republic of Bashkortostan’s oil and gas assets, now comprising Bashneft, in 90s, demanding Bashneft’s return to the government.

The oil company may be privatized again later.

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