alone “Rosneft” asked to be granted 1.5 trillion rubles from the fund of more than 3.1 trillion rubles
Russian Finance Minister Anton Siluanov presented to the public the result of discussions about it is appropriate to use the National Welfare Fund (NWF) to support the companies affected by sanctions. Decided to send more than half of the fund for infrastructure projects and financial support to oil and gas companies Novatek and “Rosneft”. The head of the Ministry of Finance told the ITAR-TASS news agency. Read also: Sechin Sanctions “Rosneft”, “God sees everything and fix everything”
Discussion in the government and relevant ministries question use of NWF began by asking the head of “Rosneft” Igor Sechin, concern about the impact of sanctions on his company (the United States in July banned NOVATEK and “Rosneft” operations with loans for a period of over 90 days). In mid-August, he proposed several options to support his company. For example – to buy new bonds of “Rosneft” to 1.5 trillion rubles from the NWF. Deputy Prime Minister Arkady Dvorkovich has promised to give an answer Sechin the beginning of September. Head of Economic Development Minister Andrei Uljukaev opposed the granting of “Rosneft” to 1.5 trillion rubles.
The head of the Russian Finance Ministry told reporters: “We have agreed that up to 60% of SWFs can be invested in projects, infrastructure projects Rosatom and the Russian Direct Investment Fund (RDIF). We agreed that we can additionally review the structure of investment and part of the funds provided under the 60%, to redistribute large companies, which today lost the external debt markets. The first is “Rosneft” and Novatek ».
In principle, Siluanov noted, the Finance Ministry is ready to consider offers” general conditions within 60% of the NWF, which provides for investments. ” According to the minister, the remaining 40% so far decided not to print out and keep as a strategic reserve. “Of course, if the situation escalated, deteriorate, we can go back and to this subject,” – said Siluanov.
«Rosneft» NOVATEK and can receive money from the National Welfare Fund in the current year, the Minister said.
Note that Sechin commented sanctions against “Rosneft”, “This is, of course, very sad … I think that God sees everything and fix everything».
In the NWF as of September 1, were 3 trillion 151 billion rubles, which is equivalent to 85.31 billion dollars and 4.4% of GDP.
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