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UK oil firms cheating investors, says Russia |
| Home | (The Guardian) - Russia stepped up the pressure on British-listed energy and mining companies yesterday with an influential Moscow regulator alleging that some of them were "cheating" investors by exaggerating their reserves. Oleg Mitvol, deputy head of the environmental watchdog Rosprirodnadzor, called on the London Stock Exchange and other authorities in the UK to stamp out the alleged abuses. His call comes at a time when the Kremlin has been taking back Russian assets from UK companies such as Shell and BP which it believes were obtained on the cheap when times were bad in Moscow. |