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Russia’s National Wealth Fund may grant Rosneft, Novatek $4 billion by 2014

September 19, 2014, 16:29 UTC+3 SOCHI
"We will consider the proposals by the companies using standard procedures that exist in the fund," Russian Finance Minister Anton Siluanov says
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Russian Finance Minister Anton Siluanov

Russian Finance Minister Anton Siluanov

© ITAR-TASS/Dmitry Rogulin

SOCHI, September 19. /ITAR-TASS/. The government may grant $2-4 billion from the National Wealth Fund designed to secure the country’s pension system both to Russian oil major Rosneft and gas company Novatek in 2014 to help them survive sanctions, Finance Minister Anton Siluanov said Friday at an investment forum.

“Indeed, Rosneft and Novatek asked the Russian government to spend a part of the National Wealth Fund’s money on their bonds. We will consider the proposals by the companies using standard procedures that exist in the fund. I think we can make decisions regarding this in 2014,” Siluanov said.

Economic Development Minister Alexey Ulyukayev said that Rosneft and Novatek will not have enough time to prepare petitions to get the financial assistance this year. This is possible if “there are proposals from the two companies, and now there are no petitions. They must undergo all necessary procedures and only in this case they will be included in a short list of companies authorized for this kind of financing. I have doubts that it is possible to make it this year,” Ulyukayev said.

Siluanov separately said that Russia may invest money of the Reserve Fund and the National Wealth Fund in bonds issued by other BRICS countries.

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