CEO Mikhail Gutseriyev, who has denied the accusations, and does not yet face formal charges, resigned on July 30. RussNeft, one of Russia's top ten crude producers with recoverable reserves of more than 630 million metric tons (4.6 billion barrels), faces substantial back tax claims.
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Russneft Securities Weren't Seized
A Moscow court has refused to order the seizure of securities held by private oil group RussNeft
A Moscow court has refused to order the seizure of securities held by private oil group RussNeft, the head of the court's press service said Monday, RIA Novosti reported.
The seizure had been requested by the Interior Ministry, whose investigators have been conducting a tax evasion and illegal business probe against the company's CEO, Anna Usacheva said. The spokeswoman declined to explain the court's decision.
CEO Mikhail Gutseriyev, who has denied the accusations, and does not yet face formal charges, resigned on July 30. RussNeft, one of Russia's top ten crude producers with recoverable reserves of more than 630 million metric tons (4.6 billion barrels), faces substantial back tax claims.
Moscow's Arbitration Court upheld in July a claim by tax authorities that the company owes 3.7 billion rubles ($145 million) in back taxes for 2003 and the first quarter of 2004. The court is now examining a series of transactions involving RussNeft securities that the Federal Tax Service says are illegal.
CEO Mikhail Gutseriyev, who has denied the accusations, and does not yet face formal charges, resigned on July 30. RussNeft, one of Russia's top ten crude producers with recoverable reserves of more than 630 million metric tons (4.6 billion barrels), faces substantial back tax claims.
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