Kremlin voices remarks on decree allowing Rosneft share sale

(MENAFN) Kremlin spokesperson Dmitry Peskov confirmed that President Vladimir Putin's recent decree allowing transactions involving shares of Rosneft, Russia's state-owned oil company, pertains to corporate matters that cannot be disclosed due to current economic and geopolitical conditions. This statement followed questions about whether the decree is related to BP's long-delayed sale of its 19.75% stake in Rosneft. BP announced its intention to divest from Rosneft in 2022 but has not yet completed the sale.

Putin's decree, signed last week, lifts a 2022 ban on sales of Rosneft shares, allowing companies to modify, establish, or transfer ownership rights to shares in Rosneft and its subsidiaries. This move is being seen as a possible step toward facilitating BP’s exit, though Peskov emphasized that such corporate developments must remain confidential due to the global economic challenges and the "unfriendly" sanctions imposed on Russia.

In August 2022, Putin had prohibited sales of shares in strategic Russian companies by entities from "unfriendly states" without government approval, a measure aimed at protecting Russia’s economy amidst Western sanctions. The decree also comes as Rosneft negotiates the sale of its assets in Germany, including the Schwedt refinery, which the German government seized in 2022.

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