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Romania may nationalize Russia’s Lukoil refinery — media

October 09, 2014, 19:22 UTC+3 BUCHAREST

Bloomberg cited Romania’s President Traian Basescu as saying Romania iis prepating to nationalize Lukoil's refinery

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BUCHAREST, October 9. /TASS/. Romania’s President Traian Basescu has asked the government to prepare for nationalization of a refinery in Ploiesti belonging to Russia's Lukoil oil company, Bloomberg reported Thursday, citing Basescu.

The damage of Lukoil’s tax fraud to the economy of Romania may exceed 230 million euros, Basescu said.

On October 2, Romania inspected the refinery as part of an investigation into tax evasion and money laundering. After the inspection, the country’s authorities ordered the plant to suspend operations and seized the crude and products of the refinery. On Monday, Lukoil challenged the seizure of these assets in a local court.

On Tuesday, Lukoil restarted operations at the plant as arrest of company’s banking accounts and commercial stock at the plant was suspended.

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