Russia Poised to Seize Bashneft

摘要

There is little doubt that Russian investment holding AFK Sistema will have to part with its Bashneft oil company following the demand of Russia's Prosecutor General's Office to return the oil producer back to the state. In response to the prosecutor's appeal citing significant violations in the course of Bashneft's past privatization, the Moscow arbitration court arrested Sistema's shares in the oil producer and will hold a hearing on the case on Oct. 9. The prosecutor believes that the current shareholders own the company illegally.