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Russian Economic Development Ministry to prepare proposals for privatization of Sberbank

At the same time, according to Ulyukayev, it is necessary to accept changes to the legislation in order to sell Sberbank

Economic Development Minister Alexey Ulyukayev Mikhail Metzel/TASS

Economic Development Minister Alexey Ulyukayev

© Mikhail Metzel/TASS

BEIJING, January 17. /TASS/. The Russian Ministry of Economic Development will prepare proposals on the privatization of Sberbank and VTB, Economic Development Minister Alexey Ulyukayev told journalists Sunday.

"Yea, we will make proposals," he said, answering the question of whether the Ministry will propose privatization.

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Most critical phase in Russia’s banking sector development is over — Sberbank CEO

At the same time, according to Ulyukayev, it is necessary to accept changes to the legislation in order to sell Sberbank.

Earlier Ulyukayev said that Russians began to consume less and save more money. Therefore, an advanced banking system is needed, which would be able to "recycle" that amount of savings. In order to do that it is necessary to increase the capitalization of banks, which is possible through the privatization of Sberbank and VTB.

According to Deputy Finance Minister Alexey Moiseev, these credit institutions should be also privatized to create a competitive environment. The Head of Sberbank German Gref said he had a positive attitude towards the idea of ··selling Sberbank shares, but so far the issue was not discussed with the government.

Earlier Ulyukayev said that anti-Russia sanctions are not the key obstacle for privatization of Russian lenders VTB and Sberbank.

"Of course, sanctions drag (privatization) but it’s technically possible even under sanctions regime to carry out privatization transactions," he said, adding that Russia has "hundred opportunities" for privatization and has domestic demand for those assets. "However, we should first take a conceptual decision, we have legislative limitations and other limitations, which should be worked out, while the execution of a deal is not a problem," Ulyukayev said.

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Russian forces successfully advancing in all areas in special military op zone — Putin

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Ex-German chancellor never expected Russia to tolerate Ukraine’s NATO membership — memoir

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Ukraine should consider territorial concessions to Russia in return for peace — magazine

Foreign Policy pointed out that Western officials should stop insisting in public speeches on the need to achieve a strategic defeat for Russia

Western countries should 'be afraid, tremble' after Putin's statement — lawmaker

Andrey Kartapolov added that the special military operation in Ukraine "will continue its course until all tasks are completed"

Russia entitled to use weapons against military sites of states attacking it — Duma

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Any escalation scenario possible in Ukraine conflict — Medvedev

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Putin’s remarks on hypersonic missiles send serious warning to West — Turkish politician

According to the Russian president, it can install a nuclear warhead on this missile, if necessary, Deputy Chairman of Turkey’s Patriotic Party Hakan Topkurulu said

China urges restraint after Russia, Ukraine's exchange of attacks — foreign ministry

Lin Jian also reaffirmed Beijing's position on the Ukrainian issue

Trump to rely on forces that brought him to power — Russian presidential aide

Nikolay Patrushev agreed that Trump, when he was still a candidate, "made many statements critical of the destructive foreign and domestic policies pursued by the current administration"

Enemy losses, mercenary intrigue, humanitarian aid: situation in Kursk Region

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US decision to allow missile strikes deep into Russia fuels global escalation — Slovak PM

Robert Fico also rejected the belief that this escalation would not impact "those living far away, in Spain, England, or America"

Japanese lawmaker praises Putin's restraint amid decision to strike deep into Russia

Top EU diplomat Josep Borrell confirmed that the US administration had lifted restrictions for US-supplied missiles to be used for strikes up to 300 kilometers inside Russia

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Mira Rapp-Hooper mentioned the US administration’s version, according to which North Korea has allegedly sent troops to engage in active combat in Ukraine

Russia’s reaction to Austrian OMV’s failure to pay for gas justified — MFA

The company stated it would seek damages amounting to 230 million euro for failing to receive the contracted volume of gas from the Russian company for delivery to Germany

Oreshnik missile to go into serial production, Putin says

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