Russian govt can support Rosneft without giving money

The Russian government can support oil major Rosneft without spending any money directly, Economic Development Minister Alexei Ulyukayev told reporters late Wednesday.

Previously, Rosneft asked the government for financial aid due to the sanctions imposed on the company by the U.S. Under the first and most expensive option Rosneft has suggested the National Wealth Fund, which collects oil revenue, purchase 1.5 trillion rubles of new Rosneft bonds, the figure being equal to Rosneft’s net debt.

“Some of the options are fairly reasonable. The support may not be connected with money spending but, instead, may be about customs and tax regulations and so on,” Ulyukayev said.

Source: PRIME, 2014


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