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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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 president, to move the Bashneft privatisation to a later date," Premier Dmitry Medvedev's spokeswoman Natalya Timakova said by phone on Tuesday, without elaborating. The sale won't happen this year, the news website RBC reported, citing a person it didn't identify.
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