Romanian prosecutors seize Lukoil’s accounts abroad, for EUR 2 bln damage
Romanian prosecutors have decided to seize assets belonging to the Lukoil Europe BV Netherlands and Petrotel Lukoil, both part of Russian group Lukoil, of up to EUR 2 billion, in a case of tax evasion and money laundering, according to the Ploiesti Court of Appeal's Prosecutor's Office.
They have seized bank accounts held by Lukoil Europe BV Netherlands at British and Dutch banks, as well as the shares the firm holds in Petrotel-Lukoil SA Ploiesti, the local subsidiary of Russian group Lukoil, which controls the Petrotel Ploiesti refinery.
It is for the first time that Romanian prosecutors seize accounts held at foreign banks by companies that operate in Romania. It's also the highest distraint ever imposed in Romania
Prosecutors have also placed five people, including two Russian citizens, under judicial control. All of them are employees of Petrotel Lukoil.
According to the prosecutors, Petrotel Lukoil’s commercial policy and the financial operations between the company and its majority shareholder, Lukoil Europe BV Netherlands, have led to its decapitalization. The damage generated by misusing the company’s capital is estimated at EUR 1.1 billion and USD 1.5 billion, according to the prosecutors. They are also investigating the company for money laundering.
The Romanian prosecutors from Ploiesti started an investigation against Lukoil last year. The probe, which also involved asset seizures, determined political reactions in Romania and Russia.
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editor@romania-insider.com
