Russia's crude producer OAO Tatneft (TATN.RS) is taking legal action to obtain $1.1 billion from Ukraine in compensation for the loss of control of its former affiliate, Ukrtatnafta, the daily Vedomosti reported Thursday, citing an unnamed Tatneft official.
Tatneft and the Tatarstan government, which co-owns Tatneft, controlled Ukrtatnafta until mid-2007, when a Ukrainian court awarded the disputed 18.3% stake in the refinery to Naftogaz Ukrainy, giving the Ukrainian company a 61.4% total interest.
In October, Tatneft stopped supplying oil to the Kremenchug refinery after Ukrainian police enforced a court order replacing Ukrtatnafta's Tatneft-friendly chief executive with an executive seen as loyal to Naftogaz Ukrainy.