Court Hearings in ExxonMobil's Suit Against Russia to Begin Next Spring

© AFP 2023 / ERIC PIERMONTLogo of US oil and gas giant ExxonMobil
Logo of US oil and gas giant ExxonMobil - Sputnik International
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Court hearings in the US multinational oil and gas company ExxonMobil's lawsuit against Russia will begin next spring, Russian Deputy Finance Minister Ilya Trunin said Wednesday.

MOSCOW (Sputnik) — When asked about the expected date of the hearings, Trunin told reporters:

"In the spring of 2017." 

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ExxonMobil filed a complaint with the Stockholm arbitration institute in April 2015, alleging that it overpaid $500 million in value-added tax on an offshore oil and gas project in the Russian Far East. The multinational corporation has been arguing it should pay a 20 percent tax rate for the Sakhalin-1 project over the past five years because the VAT was reduced from 35 percent in 2008.

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