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Court arrests AFK Sistema-owned Bashneft’s stock

September 26, 2014, 9:34 UTC+3 MOSCOW

The decision was taken under a lawsuit filed by the Prosecutor General’s Office

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© ITAR-TASS/Sergey Bobylev

MOSCOW, September 26. /ITAR-TASS/. On demand by the Prosecutor General’s Office the court has arrested AFK Sistema-owned Bashneft’s stock, the Prosecutor General’s Office said on Friday.

The decision was taken under a lawsuit filed by the Prosecutor General’s Office.

The Prosecutor General’s Office filed a lawsuit to reclaim AFK Sistema-owned Bashneft’s stock to the Russian state, spokesperson for the Prosecutor General’s Office Marina Gridneva told ITAR-TASS on Friday.

She added that the Prosecutor General’s Office had found massive legislation violations in alienating enterprises of the fuel and energy sector in the republic of Bashkortostan in the southern part of the Ural Mountains.

“Since mentioned property entities were managed in violation of state property privatisation procedure, breaching the will of the Russian Federation and for protection of state interests the Prosecutor General’s Office had filed a lawsuit in the Moscow Court of Arbitration to claim property from illegal possession and to take injunctive measures to arrest joint stock oil company Bashneft’s stock,” Gridneva said.

“The Arbitration Court of Moscow has satisfied the Prosecutor General’s Office request, has taken injunctive measures and has arrested joint stock oil company Bashneft’ stock owned by AFK Sistema and closed-access joint stock company Sistema-Invest,” she added.

The money laundering case over Bashneft’s stock fraud is being investigated. Chairman of AFK Sistema Board of Directors Vladimir Yevtushenkov is under investigation. On Thursday, the Moscow City Court left him under house arrest until November 16.

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