World Economy

Ukraine Court Accuses Transneft of Stealing Oil

Ukraine Court Accuses Transneft of Stealing OilUkraine Court Accuses Transneft of Stealing Oil

A Commercial Court of Ukraine’s Rovno Region has accused local affiliate of Russian pipeline monopoly Transneft of stealing oil products from the Samara-Western Direction pipeline, Transneft CEO Nikolay Tokarev told reporters Monday.

The company started pushing oil products towards Hungary for further shutdown of the pipeline. Around 17,000 tons has been pushed through, though the Lukoil owns 100,000 tons of the fuel, Tokarev was quoted by Itar Tass as saying.

In November, Rovno’s Court of Appeals ruled that a previous court’s decision to nationalize Transneft’s 1.5 kilometer transit oil product pipeline was legitimate. Transneft will challenge the decision in the Supreme Economic Court of Ukraine, Igor Dyomin, company’s official representative, said then. According to Tokarev, oil products transit through Ukraine still poses no threats.