BP sues Russian partners in TNK-BP

MOSCOW (Reuters) - Oil major BP (BP.L: ) said on Saturday it is suing its partners in the Russian venture TNK-BP TNBPI.RTS in London for 8.4 billion roubles (180.2 million pounds), money it believes should not have been paid out as back-tax claims in Russia. The move comes on top of other problems at TNK-BP, whose owners, BP and four Russian-connected billionaires, are locked in a dispute over the firm's strategy and management control. "It relates to our initial shareholding agreement signed back in 2003 which said that all back-tax claims prior to the creation of the TNK-BP venture must be paid by the Russians only," BP spokesman in Moscow Vladimir Buyanov told Reuters. "It has nothing to do with the current dispute," he added. TNK-BP has had to pay over $2 billion (1 billion pounds) in back-tax claims over the past few... [read full story]