US treasury to study Russia’s Rosneft privatization deal

WASHINGTON, Dec 9 (PRIME) -- The U.S. Department of the Treasury will attentively study Russian oil major Rosneft privatization deal amid the current sanctions against the country, the White House Press Secretary Josh Earnest said at a briefing late Thursday.

The treasury’s specialists will consider terms of the deal and the effect of sanctions, he said.

Late on Wednesday, presidential spokesman Dmitry Peskov said that the government completed a deal to sell a 19.5% stake in Rosneft to Swiss commodities trader Glencore and Qatar’s sovereign fund for 10.5 billion euros. President Vladimir Putin said the proceeds from the company’s privatization should come to the budget in the ruble equivalent and ordered that leaps on the currency market should be avoided.

Finance Minister Anton Siluanov said late Thursday that the budget will receive 703.5 billion rubles from the sale of the Rosneft stake between December 15 and December 20 and will allow it to finance budget expenditures without increasing the deficit.

(63.3901 rubles – U.S. $1)

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