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Rosneft Will Pay $420M

Rosneft said Monday that it would abide by a Dutch court decision seeking 12.9 billion rubles ($420 million) related to the seizure of Yukos.

“The company believed its position would be carefully studied by the high court in Netherlands, which unfortunately didn’t happen,” Rosneft said. “This won’t affect the company’s execution of the court decision.”

The Supreme Court of the Netherlands on June 25 denied a Rosneft unit’s appeal against a ruling to repay loans granted before Russia seized and sold off Yukos Oil, Yukos Capital, which is run by former Yukos Oil management, said in an e-mailed statement that day.

(Bloomberg)


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