Romania: $2 Billion in Lukoil Assets Seized in Tax Probe
Romanian prosecutors this week seized assets worth € 2 billion (US$ 2.2 billion) from major Russian petroleum company Lukoil.
According to Reuters, this comes after “Romanian prosecutors, police and customs inspectors raided the offices of Lukoil near the city of Ploiesti in an investigation into alleged tax evasion and money laundering concerning an estimated €230 million” in November 2014. Individual employees of Petrotel Lukoil S.A in Romania are also being investigated by authorities.
Assets held in British and Dutch banks were included among those seized, Romanian media reports say.
OilVoice, a trade publication, reports that Lukoil “has strongly denied accusations of money laundering and tax evasion” and “is a prompt payer to the state budget and a supplier of quality products to the Romanian consumers.” Lukoil says it will appeal the action.