Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

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)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more