Russia to reduce Rosneft stake below 50%

摘要

Russia will reduce the state's ownership in many national companies, including in the country's biggest oil company Rosneft, to below a controlling stake within the next three-five years, according to Russia's finance minister Alexei Kudrin. "Within the next three-five years, the state is to practically withdraw from controlling stakes in all companies that are key for their industries," Kudrin told a Renaissance Capital investment conference. This is the final decision," he said. The government hopes to improve corporate governance of the companies and attract private investments for their development, Kudrin said. The government is to prepare an updated list of companies in which it is to reduce its stakes by August 1, said Arkady Dvorkovich, economic adviser to Russia's president Dmitri Medvedev. He said Rosneft would be a key item on the list, and Kudrin also mentioned Sovcomflot, a tanker fleet operator. Kudrin added that the government will reduce its stakes to "below controlling stake in companies that are not crucial for maintaining national security."