Russia settles with ExxonMobil in tax dispute

A legal dispute concerning over-taxation of more than USD 600 million has been resolved in a "a mutually beneficial compromise," informs the Russian Ministry of Finance.

Photo: ritzau/AP/Alexei Druzhinin

ExxonMobil and Russia have reached a settlement outside of the court for a dispute concerning over-taxation totaling USD 637 million, reports Reuters, citing a notice issued by the Russian Ministry of Finance on Thursday.

"The sides have reached a mutually beneficial compromise," writes the ministry, adding that the settlement was reached Tuesday.

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