US oil and gas giant ExxonMobil is suing Russia at the Swedish Arbitrage Court for back taxes it believes it overpaid on a joint project, the energy ministry said Thursday. A spokeswoman for Russia's energy ministry confirmed to AFP the launch of the legal proceedings, but would not give further details.
But Vedomosti business daily, which first reported the claim, quoted a source saying that ExxonMobil is seeking to recover part of $500 million in excess taxes it paid on its profits from the Sakhalin-1 project.
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