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. Last Updated: 07/27/2016

Mitvol Plans to Inspect Urals Energy

The state environmental agency plans inspections of several sites operated by oil company Urals Energy, the agency said Tuesday, knocking more than 10 percent off the firm's share price.

The Federal Service for the Inspection of Natural Resources Use said in a statement that it had decided to investigate the firm's operations after environment organizations accused it of dumping oil products in the Barents Sea.

The agency also said ecologists had accused Urals Energy of deforestation in the Irkutsk region and had information about wrongdoing around the island of Kolguyev in the arctic Nenets autonomous district.

Oleg Mitvol, deputy head of the environmental agency, said in a statement that the agency had initially planned an examination of the firm's license and environmental compliance in late 2007.

The company's CEO, Leonid Dyachenko, is the former son-in-law of the late President Boris Yeltsin.