Support The Moscow Times!

TNK-BP Holders Appeal to Medvedev

Minority shareholders in TNK-BP Holding asked President Dmitry Medvedev to protect their rights as they seek damages from the board representatives for the British energy company.

The six minority shareholders say they were threatened with criminal prosecutions after filing a suit against the BP directors, according to an open letter published Thursday in Vedomosti, which was published as an advertisement. They also asked Medvedev to order a hearing of their complaint.

A Tyumen court rejected two suits last year from the shareholders, who claimed damages in connection with BP's failed share swap and Arctic exploration alliance with Rosneft, Russia's biggest oil producer. BP said the claims were groundless, as TNK-BP couldn't suffer lost profit from the deal.

Meanwhile, BP is trying to find out if someone else is behind the minority shareholders' claims.

"On Thursday, BP sent a statement to the administration of the Investigative Committee of Moscow and the Tyumen region with the request to investigate a message that appeared in the mass media saying minority shareholders in TNK-BP Holding, instituting billions of dollars in claims against BP, were misguided by unidentified individuals and gave the powers of attorney to these individuals to represent their interests in court for a promised reward," BP lawyer Konstantin Lukoyanov told Interfax.

(Bloomberg, Interfax)

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more