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Bashneft Board of Directors approved the terms of out-of-court settlement with Sistema

22 December 2017

Rosneft and Bashneft announce that Bashneft Board of Directors approved the terms of the out-of-court settlement with JSFC Sistema and JSC Sistema-Invest. The voluntary settlement was signed by all the parties of the lawsuit on the compensation of damages from Bashneft reorganization. The settlement will be subject for the Bashkortostan Republic Arbitration court approval. 

According to the settlement terms the defendants are obliged to compensate the agreed damages to Bashneft in the amount of RUB 100 bn. The funds for the compensation will be raised by the defendants with the assistance of the Russian Direct Investment Fund and Sberbank. The finalization of the payments shall be made by March 30, 2018. The parties agreed to restrain from any further claims regarding the disputable issues upon the above mention payments finalization.

Information Policy Division
Rosneft
tel.: + 7 (499) 517-88-97
December 22, 2017

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.