Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

BP Suit Postponed

The Federal Arbitration Court in Tyumen on Monday postponed hearings on a suit brought against BP by minority shareholders who allege the British oil major cut TNK-BP out of a possible exploration deal with Rosneft.

The court scheduled a new hearing for July 26 after reopening a case that it threw out last year.

The amount of damages being sought by the minority shareholder group has been cut to $8.8 billion from $12.5 billion, a representative for BP said. The minorities had claimed that TNK-BP suffered financial losses when it was excluded last year from a proposed exploration alliance between BP and Rosneft.

(Reuters)

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.