MOSCOW, May 20 (TASS) - The Antipinsky Refinery (part of New Stream group of companies of Dmitry Mazurov) has filed a bankruptcy petition to the arbitration court of the Tyumen Region, the company’s representative told TASS.

“On May 18, the Antipinsky Refinery filed a bankruptcy petition to the arbitration court of the Tyumen Region,” he said.

On May 16, Transneft suspended oil supplies to the refinery.

A representative of the refinery explained that in December 2018, it was transferred to the recycle mode, while the enterprise with the participation of traders and the biggest creditor Sberbank assumed measures to launch production, including working capital financing for oil purchases through providing additional credit facilities of Sberbank.

“Further on, it was planned to support working capital through maintaining payment volumes from the side of traders. Advance prepayments received in full was one of the key conditions for maintaining the plant’s liquidity and provided the required level of purchased oil. Unfortunately, in 2019, a number of traders, including VTB Commodities Trading, breaching the agreements reached earlier, stopped providing advance payments for purchases of petroleum products, which resulted in a decrease of the volumes of purchased oil and, as a consequence, halting of the plant for recycling on April 26,” the representative said.