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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s