RIA Novosti reports from the courtroom that the representative of AFK Sistema said in the arbitration court of Bashkortostan that the court took unsubstantiated security measures for the suit of Rosneft for 170.6 billion rubles, since the assets of AFK many times exceed the price of the claim and allow to pay off all creditors.

The representative of AFK Sistema said: "The book value of AFK's assets under RAS is 450 billion rubles, according to IFRS - 1.1 trillion rubles ... The amount of assets exceeds the amount of potential recovery, which excludes the adoption of interim measures".

He noted: "The definition was rendered, in our view, erroneous".

In AFK Sistema they expressed the opinion that Rosneft did not provide any evidence that damage and difficulty of execution of the judicial act. A representative of Sistema said: "The risk of alienating assets by plaintiffs has not been documented".

Arbitration of Bashkortostan today, July 6, considers applications from AFK Sistema and Sistema-Invest to cancel interim measures.

As previously reported, interim measures were taken by the court on June 23 as part of the lawsuit filed by Rosneft, Bashneft and Bashkiria against AFK Sistema and its subsidiary to recover damages of 170.6 billion rubles. As the court noted, in confirmation of the book value of assets, the plaintiffs presented the balance sheets of PJSC "MTS", JSC "BESK", JSC "Medsi".