December 26, 2017 / 10:49 AM / a year ago

Russian court approves amicable agreement between Rosneft, Bashneft and Sistema - RIA

MOSCOW, Dec 26 (Reuters) - A Russian court has approved the amicable agreement reached on Friday between the Sistema conglomerate and Russia’s largest oil producer Rosneft in their dispute over the Bashneft oil company, RIA news agency said on Tuesday.

Sistema will be obliged to pay Bashneft 100 billion roubles ($1.73 billion) by March 30, 2018, according to the terms of the settlement, which required approval from a Russian regional court.

The judge said that the freeze on Sistema’s assets, put in place by the courts as part of the dispute, will be removed gradually, according to the RIA report.

$1 = 57.7140 roubles Writing by Polina Ivanova; Editing by Katya Golubkova

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