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Kremlin expects funds from Rosneft deal to go into budget in mid December

According to Kremlin spokesman Dmitry Peskov, the involvement of the consortium of Glencore and Qatar’s sovereign fund in the transaction has demonstrated the attractiveness of Russian assets

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Glencore expects deal on purchasing stake in Rosneft to close in mid-December

MOSCOW, December 8. /TASS/. Kremlin expects the funds raised from the sale of Rosneft stake to go into the budget on December 15, presidential spokesman Dmitry Peskov said Thursday.

"There is a target - December 15, which features in respective decisions made by the government," Peskov said, adding that "no one has cancelled it."

According to Peskov, the involvement of the consortium of Glencore and Qatar’s sovereign fund in the transaction has demonstrated the attractiveness of Russian assets. "From the political viewpoint we’ve seen that Russian assets are very attractive for investors both inside the country and abroad," he said.

On December 7, Chief Executive Officer of Rosneft Igor Sechin reported to the Russian President that the privatization deal for the 19.5% stake in the company had been completed. A consortium of Glencore and Qatar’s sovereign fund became the strategic investor and purchased shares for 10.5 bln euro. President asked to convert revenues from the privatization into rubles in order to avoid exchange rate fluctuations.

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