MOSCOW (Reuters) - The Moscow Arbitration Court has awarded the Sistema business conglomerate damages of 70.7 billion roubles ($1.13 billion) for losses related to the seizure of the Bashneft oil company, RIA news agency reported on Monday.
The court ruled that a firm called Ural-Invest, which sold a stake of over 70 percent in Bashneft to Sistema in 2009, should pay the damages.
Last year, Sistema had to transfer its stake in Bashneft to the state to comply with a court ruling that said the privatisation of Bashneft in the early 2000s was unlawful.
(Reporting by Vladimir Soldatkin; Editing by Alexander Winning)
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