Russia’s Rosneft redeems $7 bln loan on purchase of TNK-BP

MOSCOW, Dec 22 (PRIME) -- Russian oil major Rosneft has repaid a U.S. $7 billion loan taken to purchase TNK-BP, in accordance with the schedule, Rosneft said in a statement on Monday.

The whole sum of loan repayments of the company in 2014 stood at $24 billion.

“Rosneft does not need the currency market to perform its liabilities because it generates enough revenue denominated in foreign currencies. The balances of the funds are sold on the foreign exchange market. Rosneft affects positively the domestic currency market this way. And the National Wealth Fund Money funds we are asking for, if we receive them, will be spent on projects of strategic importance for Russian regions,” CEO Igor Sechin said.

Rosneft purchased TNK-BP in March 2013 from BP and a consortium of shareholders Alfa-Access-Renova.

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