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Rosneft’s request for aid from Welfare Fund fails to match reality — minister

October 29, 2014, 14:31 UTC+3
Rosneft earlier filed a request for over 2 trillion rubles ($48 billion) from the National Welfare Fund amid the persisting Western sanctions against Russian banks and energy companies
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Russian Economic Development Minister Alexey Ulyukayev

Russian Economic Development Minister Alexey Ulyukayev

© ITAR-TASS/Valery Sharifulin

NOVO-OGARYOVO, October 29. /TASS/. Russian oil major Rosneft’s request for financial assistance from the National Welfare Fund does not correspond to reality and the requirements for projects entitled to financing from the Fund, Economic Development Minister Alexey Ulyukayev said on Wednesday.

Rosneft earlier filed a request for over 2 trillion rubles ($48 billion) from the National Welfare Fund amid the persisting Western sanctions against Russian banks and energy companies.

“We’ll work with the company (Rosneft). The request in its current form does not comply with the requirements, which are set to projects entitled to financing from the National Welfare Fund because it actually aims to cover the company’s financial gaps as a whole and with regard to its investment program,” Ulyukayev said.

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