Fridman threatens to sue UK over North Sea oil fields

Mikhail Fridman

Fridman threatens to sue UK: Russian billionaire Mikhail Fridman has gone ahead with the acquisition of 12 North Sea field gas licences and says he may  take legal action against the British government if it carries out its threat to force him to sell them on to a third party. Fridman has used his Luxembourg-based LetterOne investment vehicle to buy the licences off the German utility company RWE’s oil and gas production subsidiary DEA  for €5.1bn in a deal that was first broached last year ago at almost exactly the same time that the EU began imposed sanctions on Russia for its annexation of Crimea.