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Rosneft says out of court settlement with Sistema possible on its terms
July 4, 2017 / 12:43 PM / in 3 months

Rosneft says out of court settlement with Sistema possible on its terms

MOSCOW, July 4 (Reuters) - Russia’s largest oil producer Rosneft signalled on Tuesday it was ready for an out of court settlement of its legal row with business conglomerate Sistema but stressed the dispute must be solved on Rosneft’s terms.

“If they (Sistema) want to achieve an out of court settlement, they need to offer something definite and not to drag their feet over it,” Roseneft CEO Igor Sechin told reporters.

State-controlled Rosneft is suing Sistema for 170.6 billion roubles ($2.88 billion) in damages following its purchase of oil producer Bashneft last year, alleging some assets were removed from Bashneft. Sistema has rejected the claims.

Sechin said Sistema was currently taking “tactical steps in order to delay court proceedings”.

$1 = 59.2738 roubles Reporting by Denis Dyomkin; Writing by Dmitry Solovyov; Editingb by Vladimir Soldatkin

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