Russia's Rosneft knocks Sistema with new $2.2 bln lawsuit

Russia's Rosneft knocks Sistema with new $2.2 bln lawsuit

Russian oil major Rosneft filed a new $2.2 billion lawsuit against conglomerate Sistema on Thursday, Reuters reported.

Rosneft bought a controlling stake in mid-sized oil company Bashneft from the government in 2016. It subsequently alleged Sistema had removed assets from the company, something Sistema denies.

A Russian court ruled in August that Sistema should pay more than 136 billion roubles ($2.3 billion) to Rosneft in compensation as a result of this first lawsuit.

Putin’s spokesman Dmitry Peskov said on Thursday it was up to the courts to decide on the new lawsuit.

The lawsuit was filed at the arbitration court of Russia’s Bashkortostan region in relation to dividends paid by Bashneft in 2009-2014, when Sistema was its controlling shareholder.

Rosneft said it had “done everything it could” to reach a settlement, while Sistema said it welcomed any effort to try to end the dispute in a way that suited both parties.

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