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Russia's Sistema countersues Rosneft for $5.6 billion

Staff Writer | December 8, 2017
Russian conglomerate Sistema said it had filed a 330.5 billion rouble ($5.6 billion) lawsuit against Rosneft.
Fight   Rosneft is seeking the return of dividends
It is retaliating against $4.5 billion in legal claims made against it by Russia's top oil producer.

Shares in Sistema, which groups the assets of Russian businessman Vladimir Yevtushenkov and includes the country's largest mobile operator MTS, hit a three-year low after Rosneft filed its second lawsuit on Thursday.

Rosneft is seeking the return of dividends paid out by mid-sized oil company Bashneft in the years between 2009 and 2014, when Sistema was its controlling shareholder.

"Sistema has been forced to take actions to defend the legitimate interests of the corporation, its employees, partners and shareholders, and has asked the court to compensate the losses incurred," Sistema said on Friday.