Russia plans to sell 19.5% share in the oil company to China and India

Almaty. June 20. Silkroadnews – Russia plans to sell 19.5% share in “Rosneft” company to China and India for $11 billion, TASS reports with reference to Bloomberg.

“Russia is seeking buyers for 19.5 percent of state oil champion Rosneft OJSC and would prefer a joint deal with the two nations leading the growth in global energy demand,” the publication states.

With this Moscow expects to raise at least 700 billion rubles ($11 billion) from the sale, which would set a privatization record for the country, the agency notes.

Bloomberg notes that “Rosneft” pumps more oil than the U.S. oil company ExxonMobil Corp., and the transaction in question shall not only bring financial benefits, but will be important for Moscow in geopolitical terms.

The publication notes “China and India have both publicly expressed interest in the Rosneft sale”, “but neither side has said whether a joint deal is being considered”.