Russia's tax authorities have dropped the idea of nationalizing the privately held oil producer Russneft, clearing the way for billionaire Oleg Deripaska's investment vehicle Basic Element Holding to buy the oil company, the Vedomosti daily said Thursday citing a tax official.
In June of last year, the Russian Federal Tax Service issued tax evasion claims against Russneft and its owner Mikhail Gutseriyev totaling more than RUB20 billion.
These claims could potentially turn control of the company into state hands, but after the tax service earlier this week dropped a number of the claims, Russia's Antimonopoly Service can now grant permission for Basic Element to buy the company.
At the end of August last year, Basic Element asked the Federal Antimonopoly Service for permission to acquire a controlling stake in Russneft from Gutseriyev, who meanwhile had fled the country, accusing the government of using regulation as a pretext to force him out of business.