Kremlin voices remarks on decree allowing Rosneft share sale
Date
12/28/2024 2:52:04 AM
(MENAFN) Kremlin spokesperson Dmitry Peskov clarified on Wednesday that President Vladimir Putin's recent authorization of transactions involving Rosneft shares is tied to confidential corporate matters, influenced by the current geopolitical and economic climate. This followed questions regarding whether the decree was connected to BP's planned exit from the Russian oil giant. Despite announcing its intention to divest in 2022, BP still holds a 19.75% stake in Rosneft, valued at around $14 billion.
Putin's decree, signed last week, lifts a 2022 ban on the sale of Rosneft shares, allowing entities to adjust ownership rights. Many analysts interpret this as potentially paving the way for BP's long-delayed sale of its stake in Rosneft, despite the company's earlier exit announcement.
Peskov emphasized that such corporate transactions must remain private due to the current global economic challenges. In 2022, Putin had imposed a ban to protect Russia’s strategic assets from foreign pressures, especially after Western sanctions.
Rosneft's shareholders currently include the Russian state-owned Rosneftegaz, Qatar's sovereign wealth fund, and various subsidiaries. The company is also negotiating the sale of its German assets, including the Schwedt refinery, which the German government took over in 2022.
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