Vladimir Putin: Bashneft’s case is not related to privatization revision

UFA, 18 December 2014. /Bashinform News Agency, Elvira Latypova/. In the case of JSOC Bashneft the court did not question the fact of privatization, but its transfer from the federal to the regional property, the Russian President Vladimir Putin said at a press conference on December 18.

“Bashneft’s case has nothing to do with privatization revision, because the court has not questioned the legality of privatization. The court placed in doubt the fact of transfer of the Russian Federation’s property to the regional property and not the fact of privatization,” Vladimir Putin said.

On October 30, the Moscow Arbitration Court sustained the claim of the First Deputy Prosecutor General Alexander Buksman having retrieved in favour of Rosimuschestvo 81.7 percent of ordinary and 20.8 percent of preference shares of Bashneft owned by Sistema JSFC and its affiliate "Sistema-Invest". The court decided that the shares of Bashkir fuel and energy companies were illegally registered in regional ownership in the 90s and therefore all subsequent transactions with them were void.