Tuesday 16 September 2014

Rosneft financing woes

"Sanctions-hit oil company Rosneft will be able to apply for money from a state wealth fund, Deputy Prime Minister Arkady Dvorkovich said Tuesday, adding that the government had "on the whole" approved the company's investment program.

Rosneft's access to Western money has been restricted by the sanctions imposed in response to Moscow's role in the Ukrainian conflict. Rosneft has asked the government for $42 billion support from a fund earmarked for Russian pensions to help it weather the sanctions.

Dvorkovich said that Rosneft had yet to apply formally for help from the National Wealth Fund and that it must define the projects for which it needs money from the fund."


http://www.themoscowtimes.com/mobile/business/article/russian-government-considers-saving-rosneft-through-state-fund/507145.html



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