A top government official reaps millions in profits with the help of the nation's wealthiest businessmen. That definitely sounds illegal. So when the international media last week reported such dealings by Russian Deputy Prime Minister Igor Shuvalov, one might have expected a public outcry.
BP Plc raising its OAO Rosneft stake shows Russia’s willingness to surrender control over the country’s largest oil producer as the state cuts its business holdings, said First Deputy Prime Minister Igor Shuvalov.
Russia’s central bank is resisting calls to cut interest rates, sparking a “huge argument” with the government over priorities as economic growth slumps, First Deputy Prime Minister Igor Shuvalov said.
First Deputy Prime Minister Igor Shuvalov urged investors to be wary of Russian stocks as policy makers in the world’s biggest energy exporter try to prevent the economy from overheating and encourage long-term investment .
Russia urged companies to delist their shares from overseas stock exchanges and trade in Moscow in an effort to safeguard them as international sanctions mount against the country after its takeover of Crimea.
Russia’s sale of OAO Rosneft shares will counter the oil producer’s potential “multilayered” acquisition of BP Plc’s Russian venture, keeping the state’s influence over the oil industry from ballooning, according to First Deputy Prime Minister Igor Shuvalov.
Russian First Deputy Prime Minister Igor Shuvalov said the government is seeking to get its three- year budget approved and is working as usual after Finance Minister Alexei Kudrin was fired on Sept. 26.