OIL PRIVATIZATION TO GO AHEAD.

The oil company Sidanko has agreed to waive its claims to another oil company, Purneftegaz, which will enable the planned sale of shares in Rosneft to proceed. Sixty two percent of shares in Rosneft are due to be sold over the next six months, with a further 32 percent up for investment tender, and are expected to raise up to $1.5 billion Sidanko had been disputing the government’s transfer of Purneftegaz to Rosneft in Russian courts since 1994. Sidanko’s withdrawal is a feather in the cap of Privatization Minister and Deputy Prime Minister Maksim Boiko. (RIA Novosti, October 2; see also, Monitor, September 16))

Another Round Fired in Russian Bank War.