Russia hopes to privatise Sovcomflot and Bashneft, before year end

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Russia hopes that its next privatisation deals to sell stakes in shipping firm Sovcomflotin and mid-sized oil producer Bashneft, could take place before the year-end, First Deputy Prime Minister Igor Shuvalov told reporters.

Shuvalov's comments came after Russia closed a deal to sell a 10.9 percent stake in its diamond miner Alrosa, the first one in a major state privatisation drive aimed at filling the budget hit by low oil prices and Western economic sanctions imposed on Moscow.

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Source: Reuters

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