MOSCOW, May 21 - RAPSI. The Federal Agency for Subsoil Use has canceled on May 18 its order to transfer to Bashneft-Polyus the license for the Trebs and Titov oil deposits, the agency said at a Moscow Commercial Court hearing, according to the Russian Legal Information Agency (RAPSI/rapsinews.com).

Bashneft shareholder Svetlana Proskuryakova submitted the lawsuit against the agency to invalidate its order to reissue the license to Bashneft-Polyus.

Bashneft-Polyus is a Bashneft-LUKoil joint venture.

The agency has asked the court to halt the proceedings due to the order's cancellation. In the lawsuit, the shareholder seeks to annul the reissuance of the license for the oil deposits.

According to the watchdog, the license will be returned to Bashneft in the near future.

The court opened the hearing on Monday. The agency said the corresponding decision was made on May 18 due to the discovery of violations committed while issuing the order.