Tuesday , May 30 2023

NRGreport – Companies – With a difficult solution, the privatization of the Russian oil rig could be privatized


With a difficult solution, the privatization of the Russian oil rig could be privatized

Secretly, in fact, they could finance the partial privatization of Rosznyefty, a state-owned oil company, from a Russian state bank, "said Portfolio at Reuters.

Russia's oil spill Rosznyefty won 19.5 percent in 2016 from Qatar State and Glencore and Moscow State Fund as a great success and proved the deal as evidence that the country remained open and attractive despite foreign sanctions and investments. The agreement amounted to 10.2 billion euros ($ 11.57 billion) in Russia, which could reach the state due to the fall in energy prices and western sanctions.

Almost two years after the announcement of the transaction, however, Reuters learned from various sources that the acquisition was essentially financed by the Russian state bank VTB. Referring to resource calculations, the news agency reports that the Russians have provided a $ 6 billion loan to Qatar's debt to finance the transaction.

VTB declined to have loaned or planned to invest in the QAR Investment Authority (QIA) in connection with the takeover. However, according to data from the Russian central bank, VTB secured a three-year credit of 434 billion rubles ($ 6.7 billion) to unlisted foreign clients and a total of 350 billion rubles on central bank loans. VTB's financial results released on November 8 show that the volume of outstanding loans to the ten largest customers in the third quarter increased by 403 billion rubles (approximately $ 6 billion).

The reports were not commented on by the Kremlin, the VTB, the Russian Central Bank and the QIA, and Rosznyefty did not respond to the news agency.

Source link