Romanian court bans Lukoil to liquidate Petrotel refinery Reviewed by Momizat on . [caption id="attachment_5527" align="alignnone" width="625"] In early July 2015, the Romanian Ploiesti Prosecutor’s Office announced the seizure of Lukoil subsi [caption id="attachment_5527" align="alignnone" width="625"] In early July 2015, the Romanian Ploiesti Prosecutor’s Office announced the seizure of Lukoil subsi Rating: 0

Romanian court bans Lukoil to liquidate Petrotel refinery

In early July 2015, the Romanian Ploiesti Prosecutor’s Office announced the seizure of Lukoil subsidiary assets worth USD 2.2 bln as a part of an investigation into a money laundering and tax evasion case that was linked to the seizure of foreign bank accounts of Petrotel Lukoil and Lukoil Europa Holding’s subsidiaries in the Netherlands, the Russian media wrote.

In early July 2015, the Romanian Ploiesti Prosecutor’s Office announced the seizure of Lukoil subsidiary assets worth USD 2.2 bln as a part of an investigation into a money laundering and tax evasion case.

The Romanian Prahova County Court has prohibited the liquidation of one of the Romania’s largest refineries, controlled by Petrotel Lukoil, the Russian Legal Information Agency, RAPSI, reported on September 4.

“The Romanian court has decided that Russian Lukoil cannot either liquidate or shut down one of its subsidiaries, Petrotel Lukoil refinery, located in Ploiesti, Romania, before November 1, 2015,” the media wrote.

In early July 2015, the Romanian Ploiesti Prosecutor’s Office announced the seizure of Lukoil subsidiary assets worth USD 2.2 bln as a part of an investigation into a money laundering and tax evasion case that was linked to the seizure of foreign bank accounts of Petrotel Lukoil and Lukoil Europa Holding’s subsidiaries in the Netherlands, the Russian media wrote.

Petrotel Lukoil owns the Romanian refinery in Ploiesti, and Lukoil Europa Holdings is the majority owner of Petroel Lukoil.

Reportedly, in August 2015, the local media wrote that the Romanian Prosecutor’s Office accused Petrotel Lukoil of violating EU sanctions. The company is suspected of deals with offshore companies owned by individuals subject to sanctions, a Russian media provider, RCC News, wrote.

The Romanian court prohibited Lukoil from liquidating or shutting down the refinery until November 1, RCC News wrote September 4, citing the Romanian news publisher, Mediafax.

Photo courtesy of Avereanu (Wikimedia Commons).

Scroll to top