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Russia shelves US$5b deal as asset sales hit snag

Renewed weakness in global oil markets and tensions among potential buyers upend plans to offer a stake in regional oil producer Bashneft

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Bashneft, based in Russia's Bashkortostan region north of Kazakhstan, pumps about 425,000 barrels a day, or 4 per cent of the county's output. It was nationalised in 2014 .

Moscow

RUSSIA is delaying what would have been its biggest asset sale in a decade after renewed weakness in global oil markets and tensions among potential buyers upended plans to offer a stake in Bashneft PJSC.

"The prime minister made the decision, which was approved by the

sentifi.com

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