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. Last Updated: 07/27/2016

Rosneft Under Threat

MOSCOW () -- The board of directors of Russian oil company NK Rosneft will meet next week to discuss a threat by a presidential tax commission to begin bankruptcy proceedings against its Krasnodarnefteorgsintez subsidiary.

Management of Rosneft and the Krasnodar refinery decided Friday to create a working group to prepare a plan to get out of the situation, a Rosneft spokesman said.

Krasnodarnefteorgsintez owes 93 billion rubles.