The Rosneft oil giant has applied to participate in the privatization of the Bashneft
oil company, the Interfax agency reported Tuesday, citing an unidentified source close to the privatization process.
“Technically speaking, Rosneft is not a state company," President Vladimir Putin's spokesman Dmitry Peskov said, according to the RBC news agency. “But, of course, there are different opinions on the matter," Peskov said.
Russian
laws forbids companies in which the government owns a stake of more than 25 percent from participating in privatization deals.
The company is not formally owned by the government, but the Kremlin owns a 69.5 percent stake in Rosneftegaz, Rosneft's parent company.
However, the possibility of Rosneft taking part in the privatization process has caused division in official circles.
A number of officials told the Vedomosti newspaper that they were opposed to the idea.
“We are categorically opposed to the idea [of Rosneft taking part in the deal], that would not be true privatization,” an unidentified official told Vedomosti. “If Rosneft takes part in the privatization, it will only be moving the same money around,” another official told Vedomosti.
Prior to 2014, Bashneft was a private company. It was nationalized after Russian tycoon Vladimir Yevtushenkov was charged with money laundering during the initial purchase of a controlling stake in Bashneft.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
