Monday 9 June 2014

Russia Pushes Back Multi-Billion Dollar Privatization Plans | News | The Moscow Times

Russia Pushes Back Multi-Billion Dollar Privatization Plans | News | The Moscow Times:



"Russia is putting off the planned privatization of three companies this year, a government minister was quoted as saying on Monday, the latest delay in a program increasingly held hostage by economic uncertainty linked to the crisis in Ukraine.



With the dollar-denominated RTS share index down about 5 percent and the ruble down 4.3 percent on the year, weakened by Western sanctions over Russia's annexation of Crimea, the government has moved away from earlier deadlines to privatize companies such as Rostelecom.



"We expect a significant decline in revenues from privatization, to 170.8 billion rubles ($5 billion)," Deputy Finance Minister Tatyana Nesterenko said, RIA Novosti reported."



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