ST. PETERSBURG, June 1. /TASS/. Russia’s oil sector should be fully privatized within the next 7-8 years, Head of Russia’s Center for Strategic Research (CSR) and ex-Finance Minister Alexey Kudrin said at the St. Petersburg International Economic Forum (SPIEF-2017) on Thursday.

"The oil sector should be fully privatized in the next 7-8 years, no state companies are required there now as the statehood brings more harm than benefit to those companies," he said, adding that oil companies are able to deal with problems without the participation of the state.