Lukoil’s assets of €2 billion euro arrested in Romania

At the request of the investigation, Lukoil’s assets to the amount of up to 2 billion euro have been arrested in Romania as part of the investigation of possible money laundering. The assets of Lukoil Europe Holdings Bvatrium Holland were arrested in the order of interim measure. In particular, accounts in Dutch and British banks and shares of Lukoil Europe Holdings Bvatrium Holland appeared under arrest.

In autumn 2014, officials of Prosecutor’s office, police and customs raided 23 addresses in offices of Petrotel Lukoil SA (Lukoil has 97% of the company’s shares) in the vicinity of Ploiesti on the case of alleged tax evasion and money laundering. The damage on the case then was estimated at 235 million euro. Lukoil had to suspend the operation of its Petrotel refinery in Ploiesti, which was restarted after a few days, when the investigation allowed to suspend the measure of restraint (seizure of bank accounts and commercial stocks of the company). At the same time, the Romanian President Traian Basescu warned the Government that it should be ready for the nationalization of the plant if Lukoil decided to close it.