In an interview with Bloomberg John Miclethwait points out Russian President Vladimir Putin that Rosneft sale will help Russia to cut the budget deficit.
The president denies plans from 2012 to disinvest from a number of companies where the government sits as dominant owner is put on ice.
– the State does not need to own such large stakes in companies and we intend to implement our plans, says Putin.
NOTE: Press play in the video box above unless interview with Putin starts automatically.
Putin says that the state during the recent months has sold off in Alrosa is the world leader in diamond mines. According to Bloomberg pulled Russia into 52.2 billion rubles on the sale, which at current exchange rate corresponds to over 6.6 billion.
The money from the sale of state-owned companies will be used to cover the largest budget deficit since 2010 .
Rosneft is also on the list of companies in which the Russian state has large shares for sale.
– We should not do this at any cost, it should be implemented so that it provides maximum power of the Russian state, says president and stressed that timing is important.
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