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Russian court orders Sistema to pay Rosneft $2.3 billion

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A Russian court ruled that Russia-based conglomerate Sistema P.J.S.C. F.C. should pay more than 136 billion rubles ($2.3 billion) to local firm Rosneft Oil Co. P.J.S.C. in a dispute over local oil and gas firm Bashneft P.J.S.C., Reuters reported. The Russian government had said that Bashneft's privatization had been illegal and seized Sistema's stake in the firm in 2014. Rosneft, which had bought a controlling stake in Bashneft from the government in 2016, said that Bashneft's assets had been removed and filed a lawsuit in May 2016 seeking compensation from Sistema.

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