Russia - 04

Russia: Bashneft Privatization Postponed: Winners and Losers

On 16 August Prime Minister Dmitriy Medvedev issued a decision to postpone the sale of the government’s 50.08% stake in Bashneft. Medvedev’s decision suggests that the sale will be delayed until the fall, but in all likelihood Bashneft will not be privatized for at least another year. The decision brings to a halt the long saga of the company’s privatization that has centered on the struggle between two key contenders, Rosneft and LUKoil. The struggle and its conclusion provide important glimpses into the decision-making over Russia’s strategic oil assets.


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