In June, Latgale regional court ruled to collect €66.7 mln from the Latvian-Russian company LatRosTrans in favour of Belarus’ state-run enterprise Polotsktransneft Druzhba. Its oil pipelines may change ownership, Latvijas avīze reports.
The trial began in 2010. Then the company LatRosTrans pumped 150,000 tons of process oil from the Polatsk-Ventspils pipeline and sold it. It happened a few years after the cessation of Russian oil transit through Latvia. Polotsktransneft claimed its rights to the oil pumped and filed a lawsuit in court.
The court decision will come into force in case the Supreme Court of Latvia rejects the appeal in cassation. In this case, LatRosTrans will be forced to pay off € 66.7 mln to the Belarusian side. In the event of insolvency or bankruptcy the pipelines will pass into the ownership of Polotsktransneft Druzhba.
In 2017, LatRosTrans earned € 1.7 mln; its turnover being around €10 mln.