A murky deal: a 19.5% stake in Rosneft has been sold

During President Vladimir Putin’s meeting with Igor Sechin, the CEO of Rosneft, on 7 December 2016, a public announcement was made about the privatisation of a 19.5% stake in the company. The shares are expected to be acquired by a consortium formed by Glencore, one of the largest firms trading in Russian oil, and Qatar’s investment fund, the Qatar Investment Authority (QIA). The USA and the EU have announced that checks will be made to ensure this deal complies with the sanctions imposed on Russia.

Rosneft, Russia’s largest state-controlled oil company, accounts for around 35% of the output and around 45% of the exports of Russian oil.

ESO: Background information: Government expenditure in Russia increases despite the crisis http://www.europeansources.info/record/government-expenditure-in-russia-increases-despite-the-crisis/

ESO: Background information: The OPEC agreement: short-term benefits for Russia http://www.europeansources.info/record/the-opec-agreement-short-term-benefits-for-russia/

---