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Romanian court to unfreeze a half of Lukoil’s accounts

September 22, 2015, 18:25 UTC+3

€642 mln at accounts of Petrotel and €542 mln at accounts of Lukoil Europe Holdings BV are still frozen

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© AP Photo/Matt Rourke

MOSCOW, September 22. /TASS/. Romanian court trying the case of the Russian oil major Lukoil will ‘unfreeze’ a half of Lukoil’s funds seized in Romania after the partial satisfaction of the appeal of the Russian company, the court said on Tuesday.

€642 mln at accounts of Petrotel and €542 mln at accounts of Lukoil Europe Holdings BV are still frozen. The total amount of seized funds was €2.2 bln and approximately €1 bln was released. No appeal can be submitted against the decision, the court said.

TASS reported earlier the court prohibited winding-up or dissolution of Lukoil’s Romanian subsidiary SC Petrotel-LUKOIL in September 2015 as a preventive measure.

Charges of money laundering and tax evasion were brought against the Russian oil major early in July. Lukoil strongly denies all these charges and says it is ready to defend its reputation by all the possible methods within the framework of international and Romanian laws.

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