Romanian court bans Lukoil to liquidate Petrotel refinery
The Romanian Prahova County Court has prohibited the liquidation of one of the Romaniaâ€™s largest refineries, controlled by Petrotel Lukoil, the Russian Legal Information Agency, RAPSI, reported on September 4.
â€śThe 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,â€ť the media wrote.
In early July 2015, the Romanian Ploiesti Prosecutorâ€™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 Holdingâ€™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 Prosecutorâ€™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).