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Finance Ministry confirms reception of funds from privatization of 19.5% of Rosneft

December 16, 2016, 18:29 UTC+3
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MOSCOW, December 16. /TASS/. Russia’s Finance Ministry has confirmed reception of funds from privatization of 19.5% of Rosneft, the funds were transferred in full, the ministry’s press service reported.

"Russia’s Finance Ministry confirms the reception of funds from privatization of 19.5% of Rosneft shares. The funds were transferred to the account of the Federal Treasury of Russia in full," the ministry said.

Earlier on Friday, Rosneft CEO Igor Sechin reported to Russian President Vladimir Putin that the federal budget had received all proceeds from privatization of a 19.5% stake in Rosneft.

Rosneft reported earlier that Rosneftegas and a consortium consisting of the sovereign fund Qatar Investment Authority and leading commodity producer and trader Glencore signed an agreement for the sale of 19.5% of Rosneft shares, the Russian budget will receive710.8 bln rubles ($31.98 bln) from the privatization deal.

Qatar Investment Authority and Glencore will invest 2.8 bln euro in the purchase of Rosneft shares, Rosneft said.

Rosneftegaz manages Russian state owned oil and gas assets.

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