Friday, September 3, 2010

Russian Oil Company Wins $30 Mln (US) Claim against Russian Customs

Major Russian oil company, TNK-BP, won its claim for 1 bln rubles in interest against the Russian Federal Customs Service. In 2004-2006, Customs overcharged the company with export duties (about 4 bln rubles). In 2007, the company asked Customs to return the overpaid amount but the Russian federal agency declined; the money was eventually returned in 2009 following a court order. The amount awarded represents two-years of interest on the overpaid amount.

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