Dispute «Rosneft» and AFK «System» improves the investment climate, said Sechin

© RIA Novosti / Alexei Nikolskiye in fotobanka PJSC NC Rosneft Igor Sechin. Archival photoDispute «Rosneft» and AFK «System» improves the investment climate, said Sechin© RIA Novosti / Alexei Nikolskiye the image Bank

Dispute «Rosneft» and AFK «System» improves the investment climate in Russia, the head of the oil company Igor Sechin.

«This improves the investment climate, because we do more transparent and responsible behavior of management and shareholders,» said Sechin told reporters.

«Rosneft», «Bashneft» and Bashkiria need to recover from Sistema, which until the end of 2014 owned a controlling stake in Bashkir oil company, is 170.6 billion. In their opinion, such damage taking into account the weakening of the ruble «System» caused Bashneft’s reorganization. The main hearing is scheduled for June 27.

AFK «System» for its part, has repeatedly stated that it considers these claims unfounded, and ready to defend its position in court.

Rosneft in 2016, in the privatization of bought of 60.16% of the ordinary shares (50,0755% of the share capital) of the Bashkir oil company for 329,7 billion rubles, and in March the results of an offer to buy out minority shareholders the shares of nearly 50 billion rubles. As a result, «Rosneft» owns 69.3 per cent of the voting shares of «Bashneft». Another major shareholder is the Republic of Bashkortostan, which owns a blocking stake.