Thursday 14 August 2014

Oil Giant Rosneft Requests Massive State Support to Withstand Sanctions | News | The Moscow Times

Oil Giant Rosneft Requests Massive State Support to Withstand Sanctions | News | The Moscow Times:



"Igor Sechin, the head of Russian oil giant Rosneft, has asked the government to provide the company with 1.5 trillion rubles ($41.6 billion) to help the company weather Western sanctions, business daily Vedomosti reported Thursday.



Under the plan, the state would spend money from its National Wealth Fund to buy Rosneft bonds, the paper reported, citing government sources. The paper added that Prime Minister Dmitry Medvedev had asked officials to analyze the idea.



Rosneft net debt stood exactly at 1.5 trillion rubles at the end of the second quarter. The company needs to repay 440 billion rubles by year-end and another 626 billion rubles next year, according to its latest presentation."



'via Blog this'

No comments:

Post a Comment