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Kremlin bans any deals between Rosneft’s shareholders before privatization



The privatization is expected to cover almost half of the deficit in the Russian budget.



10.Aug.16 3:10 PM
By Alesya Davydova
Photo Toinnov.com

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Kremlin bans any deals between Rosneft’s shareholders before privatization

Russian officials forbade Rosneeft’s shareholders to strike any deals among themselves before the privatization. Meanwhile Russian Economy Minister Alexey Ulyukaev supposes that the procedure is unlikely to take place this year, Oilprice.com informs.

Most experts share the opinion that the Russian government is trying to block BP, which is the only non-Russian shareholder with 19.75 percent, from striking a deal with any of the prospective buyers.

“We believe it wishes to avoid BP and the new strategic investor combining their efforts to oppose the government’s decisions. While this clause might dent the attractiveness of Rosneft’s stake to some extent, we deem the news neutral for Rosneft shares,” an analyst from Aton Capital said.

The Rosneft’s privatization aims at covering the gaping deficit in Russia’s budget, which was caused by low oil prices. The deficit is now equal to about $23 billion. The Kremlin hopes to get around $10.5 billion from the privatization.




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