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Forbes publishes refutation of information on Rosneft CEO’s income after court ruling

In December 2013 the magazine published an estimate of Igor Sechin’s income, which the court recognized as failing to match reality and causing damage to the honor and dignity of Rosneft's head

Igor Sechin ITAR-TASS/Mikhail Metsel

Igor Sechin

© ITAR-TASS/Mikhail Metsel

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Forbes puts Rosneft’s Sechin on top of Russia's highest-paid top managers list

MOSCOW, February 4. /TASS/. Forbes magazine published on Wednesday a refutation of information on the income of Russian oil major Rosneft CEO Igor Sechin in compliance with a Moscow court ruling.

"Several months ago, the Savyolovsky Court of Moscow passed a ruling, which we, Axel Springer Russia [the company, which publishes the Russian version of Forbes magazine] and the Forbes editorial board are accurately fulfilling," Forbes said in a statement.

"In December 2013, our magazine published an estimate of Igor Sechin’s income in the rating of managers’ pays. Let us repeat, this was our estimate, which the court recognized as failing to match reality and causing damage to the honor and dignity of the Rosneft head," Forbes said.

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In May 2014, Sechin lodged a lawsuit against the Russian edition of Forbes demanding to retract reports that he had earned $50 million in 2012 and secured a loan from Gazprombank to fund a purchase of Rosneft stock.

On August 1, 2014 the Savyolovsky District Court ruled that Forbes should delete information in its publications which created the negative image of the oil company’s president.

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