Russia's Rosneft says to continue dispute with Sistema in court

FILE PHOTO: The shadow of a worker is seen besdide the logo of the Rosneft oil company at an oil field in Russia, August 4, 2016. REUTERS/Sergei Karpukhin/File Photo

MOSCOW (Reuters) - Russian oil major Rosneft will continue court proceedings against Russian business conglomerate Sistema, Rosneft said on Saturday.

Rosneft is suing Sistema for 170.6 billion roubles ($2.85 billion) in damages over the purchase of oil producer Bashneft. Sistema proposed an out-of-court settlement with Rosneft last week.

“There is no subject for comment. The document does not contain any proposals on resolving the dispute. We will continue the proceedings in court and we are waiting for the court decision,” Rosneft said.

Sistema said last week that the mechanism to resolve the dispute which it proposed would allow the results of the Bashneft reorganization, and the financial consequences of this reorganization for the oil company, to be evaluated out of court.

Reporting by Oksana Kobzeva; writing by Polina Devitt; Editing by Toby Chopra