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Official: Tatarstan Could Lose $200 Million In Libya

A Tatneft oil well in Libya
A Tatneft oil well in Libya
KAZAN, Russia -- The Tatar parliament speaker says the unrest in Libya may cost Tatarstan some $200 million in lost business and other costs, RFE/RL's Tatar-Bashkir Service reports.

Farid Mukhametshin said in a meeting with students at Kazan Federal University on February 25 that Tatarstan's losses would mainly include oil-related equipment that it exports to Libya and unfulfilled contracts signed between the Russian republic's Tatneft company and the Libyan government.

Tatneft is Tatarstan's main oil company and is the sixth-largest in Russia. It is involved in several petrochemical projects in Libya.

Possible losses include unpaid back wages for Tatneft employees who have worked or are working in Libya.

More than 80 Tatneft employees and their families were evacuated from Tripoli in the past week.