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Russia’s Finance Ministry supports privatization of Rosneft oil giant

Privatization of the oil company can reduce risks of budget’s revenue base reduction

Rosneft CEO Igor Sechin (background), Russia's Industry and Trade Minister Denis Manturov, Russia's Finance Minister Anton Siluanov and Russia's Science and Education Minister Dmitry Livanov Mikhail Metzel/TASS

Rosneft CEO Igor Sechin (background), Russia's Industry and Trade Minister Denis Manturov, Russia's Finance Minister Anton Siluanov and Russia's Science and Education Minister Dmitry Livanov

© Mikhail Metzel/TASS

MOSCOW, November 30. /TASS/. Russian Finance Ministry supports privatization of the Russian oil major Rosneft, minister Anton Siluanov said on Monday.

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"We support such a decision [privatization of Rosneft’s stake]. This decision will result in lowered expenses of the Reserve Fund," Siluanov said.

Privatization of the oil company can reduce risks of budget’s revenue base reduction, the minister added.

Head of Russia’s Property Management Agency Olga Dergunova said earlier the task of Rosneft’s privatization is not in plans for 2016 because the agency has no documents evidencing company’s readiness to that.

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