Lukoil Czech lands 27-million fine over oil reserves deal

The Czech branch of the Russian-based oil firm Lukoil has received a fine of 27 million crowns over a deal with State Administration of Material Reserves, the daily Lidové noviny said on Monday. The case goes back to 2009 when the firm reportedly failed to replace part of 30,000 cubic metres of aviation fuel. The firm is headed by chief advisor of President Miloš Zeman, Martin Nejedlý; Mr Zeman said earlier he would consider firing him depending on the court verdict.

Author: Jan Richter