Another Yukos?
Rosneft acquired prized oil producer Bashneft, but now it's taking the previous owner to court. The case will have ramifications for capital markets
A $3bn lawsuit initiated by state-controlled Rosneft against the conglomerate Sistema over alleged asset-stripping has dismayed investors and risks undermining Russia's drive for investment. The claim covers alleged damage to oil producer Bashneft, which privately held Sistema owned until 2014, before the state reclaimed it and sold it to Rosneft. If Sistema loses, its owner Vladimir Yevtushenkov could be forced to raise debt or offload his best assets. The dispute has parallels with the dismemberment of Yukos, the oil giant owned by oligarch Mikhail Khodorkovsky. When Khodorkovsky was jailed for defying the Kremlin, Yukos was broken up. Its main assets ended up with Rosneft. Moscow-based in
Also in this section
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
