Court upholds fine on Nornickel, now $1.93bln

A Russian court on Friday February 5 largely upheld a contested fine on Nornickel, charging it $1.93 billion - the country’s largest environmental fine - for an oil spill in the Arctic.

Nornickel already took an accounting charge to cover the fine for a May 2020 oil spill that saw it surrender 98.5% of its profits for the first half of that year.
Nonetheless, Nornickel signaled Friday that it might appeal the fine again.
Nornickel had gone to arbitration over the fine Russia’s environmental agency, Rosprirodnadzor, levied in July 2020.

The fine just imposed by the Arbitration Court of the Krasnoyarsk Region in Siberia...


Orla O'Sullivan

February 08, 2021

03:50 GMT

New York