Sberbank said the amount of the claim of “Transneft” transaction with derivatives

The amount of the claim of “Transneft” the savings Bank to invalidate a transaction with derivative financial instruments is 66 billion rubles, the Bank said in its report. Earlier that pipeline monopoly has submitted the claim to the credit of the organization, Bloomberg reported.

As stated in the report of the savings Bank, the transaction was “designed and closed, however, in the opinion of PJSC “Transneft”, the Bank acted in bad faith in the transaction”. The leadership of the credit institution “there is no reason to accept the position of the plaintiff and there is no information that would indicate the possibility of a substantial outflow of economic resources,” according to the suit, the document says.

In late January, Bloomberg reported that the lawsuit was filed 11 Jan. Transactions with derivatives “Transneft” has opened in the 2014 report. The company’s net loss from operations with derivative financial instruments amounted to 75.3 billion rubles. Almost 10% of revenue for 2014.

As he wrote , in 2016, the Fund United Capital Partners, which owns preferred shares of Transneft, JSC, through the court demanded to disclose details of transactions with derivative financial instruments.

In late January of this year, “Vedomosti” reported that in addition to the “Transneft” for transactions in the financial market the savings Bank has submitted and AKHK Sukhoi. These transactions are “Dry” concluded in 2013-2014. As mentioned in the report of the company according to IFRS for 2013, the company is exposed to currency risk related to revenue, purchases and loans denominated in foreign currency. To take advantage of low interest rates, the group entered into a number of short-term foreign exchange agreements, options.