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Quote by Vladimir Putin

“This issue is not economic but political. I hope that all market participants interested in maintaining stable and reasonable world energy prices will finally make the right decision.”

Quote by Vladimir Putin

Author

Vladimir Putin is the President of Russia, born on October 7, 1952. Since 2000, Putin has served multiple terms as the President of Russia, profoundly impacting the political, economic, and social development of the country. more

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“Strictly speaking, Rosneft is not a company. Let us not forget that BP has a stake in Rosneft and BP is a British company.”

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“We may have more control, but my point is that, strictly speaking, Rosneft is not a state company. I think that this is an obvious fact, as a foreign investor has a 19.7 percent stake in it.”

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“However, given the fact that the State has a controlling stake in the company [Rosneft], it might not be the best course of action when one company under State control buys another one fully owned by the State. This is one point.”

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“Another point is that ultimately, as far as the budget is concerned, of major importance is who offers more money during the bidding that must be organized as a part of the privatization process. In this sense, we cannot discriminate against any market participants, not one of them, but this is not relevant at the moment, as the Government has decided to postpone the privatization of Bashneft.”

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“There is no need for the Russian state to hold such large stakes and we do intend to put our plans into practice. It is not about whether we want it or not, it is about this being practical or not and the best timing. In general, it is practical from at least one point of view - from the point of view of structural changes in the economy.”

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“It is true that the role of the state in the Russian economy may be too big today, but from the fiscal standpoint, it is not always practical to do this in a falling market.”

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“Our trend in the privatization process and gradual withdrawal of the state from certain assets remains unchanged.”

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“We are actively preparing a partial privatization of Rosneft itself. It is the best proof that our major plans have remained unchanged. Another example would be one of the largest Russian diamond mining companies in the world. We are privatizing part of our stake in that as well.”

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“We are working in other areas [like ALROSA] as well, so there are no radical changes to our position. It is not the case when we have to, as we say, make a lot of fuss about it. In other words, we do not have to be obsessed with privatizing immediately and at any cost.”

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“In other words, we do not have to be obsessed with privatizing immediately and at any cost. No, we will not do it at any cost. We will do it in a way that ensures maximum benefit for the Russian state and the Russian economy.”

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