Ex-owner of Russia's largest independent oil refinery arrested

A former owner of the debt-laden Antipinsky refinery, Russia’s largest independent oil-processing plant, was arrested in Moscow, his company said in a statement. 

New Stream group said its head, Dmitry Mazurov, was arrested by the Investigative Committee on Saturday at Moscow’s Sheremetyevo airport when he arrived back in Russia.

A court in Moscow ruled on Monday that Dmitry Mazurov, the former owner of Russia’s largest independent oil-processing plant, would be held in custody until September 12 pending trial on suspicion of embezzling 1.8 billion roubles ($28.75 million).

Authorities were not immediately available for comment.

Last month, SOCAR Energoresurs, a joint venture between Russia’s largest lender, Sberbank, and a group of investors, acquired an 80% stake in the Antipinsky refinery. Sberbank is the plant’s main creditor.

The plant, which has an annual capacity of 9 million tonnes, filed for bankruptcy in May, weeks after a London court ordered its assets to be frozen in response to a lawsuit from a trading house.

Court data showed there were 346.5 billion roubles ($5.5 billion) of claims against the refinery.

$1 = 62.9902 roubles Reporting by Natalia Chumakova; Writing by Vladimir Soldatkin; Editing by Peter Cooney

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