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Bashneft privatization deal turned out to be highly beneficial for government — VTB CEO

The government made a proper step by lifting all deal restrictions, which had a positive effect on the ultimate result, Andrei Kostin said

Chief Executive Officer of VTB Bank Andrei Kostin Marina Lystseva/TASS

Chief Executive Officer of VTB Bank Andrei Kostin

© Marina Lystseva/TASS

MOSCOW, November 20. /TASS/. Privatization of the Russian oil producer Bashneft is highly beneficial for the government, which earned maximal profit from that deal, Chief Executive Officer of VTB Bank Andrei Kostin said on Sunday on the air with Rossiya 24 TV Channel.

"As far as Bashneft deal is concerned, it was very successful for the government because the state received maximal benefit and maximal money for it," the banker said.

The government made a proper step by lifting all deal restrictions, which had a positive effect on the ultimate result, he added.

Rosneft acquired the government stake of 50.08% in the charter capital of Bashneft for nearly 330 bln rubles ($5.1 bln) in mid-October.

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US stops hiding true purpose of sanctions on Moscow, Russian envoy says

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Gagauzia against Chisinau’s policy of severing ties with Russia

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Russia discourages use of UN sanctions for interference in African affairs — envoy

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US using human rights topics to shake political situation in Russia — embassy

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Russia has significant amount of West’s funds in case of confiscation of its assets

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Conflict in Ukraine can be over by end of 2025, Hungary’s Orban believes

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North Korea’s economic delegation leaves for Iran — agency

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Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

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Israel retaliates missile launches from Gaza Strip — IDF

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Armenia’s decision on CSTO membership its sovereign choice — secretary general

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France preparing contingent of 2,000 troops to be sent to Ukraine — intelligence chief

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No damage, casualties after drone attack over Russia’s Kursk Region

Roman Starovoit thanked air defense troops and the regional crisis center and cautioned residents against approaching the drone wreckage if found

Russia, Africa united by common vision on global issues — senior diplomat

Mikhail Bogdanov noted that "the African continent is a dynamically developing part of the world with an enormous growth potential, attractive domestic market and expanding export prospects"

Republika Srpska president praises Moscow-Banja Luka relations, favors strengthening them

Milorad Dodik also touched upon the topic of sanctions mentioned by Patrushev earlier

Russia maintains position on 'buffer zone' in Ukraine to counter missile threats

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Russian deputy defense minister detained on suspicion of bribe-taking

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Ukrainian forces refuse to obey Commander-in-Chief Syrsky — CIA ex-analyst

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Destroyed TV tower in Kharkov carried Ukrainian air defense coordination device — official

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Global community changing tune about how Ukraine conflict started — security official

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Russia tasked with 'building new world' — Putin

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Press review: GOP tussles over Ukraine bill and Putin, Aliyev talk partnership

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US military aid for Kiev cannot stop Russian army’s advance — North Korean diplomat

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Baku cannot turn blind eye to France, India, Greece arming Armenia — President Aliyev

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Ukrainian army loses 444,000 troops during military operation — Shoigu

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Russian forces take Ukrainian strongholds near Klescheyevka under control

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