MOSCOW, March 23 /TASS/. Kremlin cannot regulate salaries of top managers at state-owned companies, Putin’s spokesman Dmitry Peskov told journalists on Monday.

"The presidential administration is unlikely to issue any instructions concerning salaries of the heads of state companies and corporations," Peskov said.

"A salary policy of any company - be it private or state-owned - is based on corporate interests. Some firms prefer cutting jobs, others find other ways to optimize their expenses. It is a corporate matter. It is not in the competence of the presidential administration," the spokesperson said.

Peskov refused to answer whether the president knew how much the chief of the Rosneft oil company was paid.

"As you may know, the president has cut salaries to presidential administration employees by 10% percent for a limited period of time. Additional decisions will be made later," Peskov explained.