Vladimir Putin allowed Trust to buy shares of Ruspetro’s subsidiary

President Vladimir Putin signed order, which allows PJSC “Bank “Trust”” to buy 100% of the shares of JSC “Inga” from the oil and gas company Ruspetro. Also, Trust will be able to buy 100% of Trans-Oil shares from Ruspetro.

Trust Bank acted as Ruspetro’s main creditor. Trans-Oil and Ruspetro Management Company were guarantors for loans issued to Inge by Trust and Otkritie in 2014–2015 for a total of $300 million. After November 14, 2019, its subsidiaries Inga and Trans-Oil defaulted on their obligations, Trust demanded that they be declared bankrupt.

In November 2020, the arbitration court declared the Inga oil company bankrupt and introduced bankruptcy proceedings at the request of Trust, which demanded about 24 billion rubles from it. In April 2022, Trust put up the rights of claim against Inga JSC for auction.

Inga, the main asset of Ruspetro, owns two oil and gas production licenses at the Pottymsko-Inginsky and Vostochno-Inginsky blocks with hard-to-recover oil from the Krasnoleninskoye oil and gas condensate field in the Khanty-Mansiysk Autonomous Okrug-Yugra.

Milena Kostereva