Russia is seeking the extradition of another Russian oligarch, Yury Nikitin, over the alleged embezzlement of funds from the state-controlled shipping company. He fled to the UK and is seeking protection from the UK government.

Vladimir Markin from Russia's Prosecutor General's Office says five suspects will be charged, including Yury Nikitin.

“The Investigative Committee alongside the Prosecutor General's Office has been investigating large scale damage of more than $US 700 million to Russian shipping company, through the abuse of trust by an organised group of suspects.”

Vladimir Markin added that four of the suspects are in the UK and the necessary documents have been prepared to request the extradition of the suspects and sent to the UK.

“The fifth suspect who's been charged, Yury Privalov, is now in custody in Switzerland under an Interpol warrant. The question of his extradition is under consideration,” he said.