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Russia's Sistema lodges appeal against asset freeze
June 30, 2017 / 9:51 AM / 3 months ago

Russia's Sistema lodges appeal against asset freeze

MOSCOW, June 30 (Reuters) - Russian business conglomerate Sistema has filed an appeal with an arbitration court against an asset freeze injunction in its legal dispute with oil producer Rosneft, an online database of legal documents showed.

Sistema confirmed it had submitted the appeal.

The Arbitration Court of the Russian region of Bashkortostan this week froze more than $3 billion of Sistema’s assets, as part of interim measures while it was considering the Rosneft’s lawsuit.

State-controlled Rosneft is suing Sistema for 170.6 billion roubles ($2.9 billion) in damages following its purchase of oil producer Bashneft last year. Rosneft has alleged that certain assets were removed from Bashneft, while Sistema has rejected the claims as groundless.

$1 = 59.3650 roubles Reporting by Maria Kiselyova; editing by David Evans

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