This content is not available in your region

Russia sells share in country's largest oil company

Russia sells share in country's largest oil company
Text size Aa Aa

Russia has sold a share of oil giant Rosneft for 10.5 billion euros. Between them commodities trader Glencore and Qatar’s sovereign wealth fund now have a 19.5% stake.

The surprise deal is said to be the largest privatisation in the oil and gas sesctor this year.

BP already owns 19.75% but Moscow will keep the controlling stake.

The sale is part of the Russian government’s efforts to help balance the budget amid a two-year recession caused by a drop in global oil prices and Western sanctions.

Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.