Russian oil group Lukoil denied on Thursday, July 9, the charges of money laundering and tax evasion made by the Romanian prosecutors, whose investigation targeted Petrotel-Lukoil, the group’s local subsidiary that controls the Petrotel Ploiesti refinery.

“Lukoil has been operating in Romania since 1998 and is one of the biggest energy company on the regional market. Lukoil is a prompt contributor to the state budget and a provider of quality products to Romanian consumers,” reads the company’s press release.

Romanian prosecutors have decided to seize assets belonging to Lukoil Europe BV Netherlands and Petrotel Lukoil. They have seized bank accounts held by Lukoil Europe BV Netherlands at British and Dutch banks, as well as the shares the firm holds at Petrotel-Lukoil SA Ploiesti.

However, the Petrotel refinery seems to be operating normally, according to the Russian news agency RIA Novosti, which quotes a source from within Lukoil’s subsidiary. Asked if the company’s assets have been frozen, the source answered “not yet”.

According to the Romanian prosecutors, Petrotel Lukoil’s commercial policy and the financial operations between the company and its majority shareholder, Lukoil Europe BV Netherlands, have led to over EUR 2 billion damages for the company.

editor@romania-insider.com