Russia - 01

Russia: NNK: Is the Curtain Closing on Khudainatov’s Venture?

In early March VTB Bank President Andrei Kostin acknowledged the bank’s potential interest in acquiring a stake in NNK, an oil company established by Rosneft’s former President Eduard Khudainatov in 2013. Kostin’s statement is the first official acknowledgement of the impending sale, which has become increasingly unavoidable in the last year as NNK struggled to remain solvent. Rosneft CEO Igor Sechin’s interests will play a major role in NNK’s future, as he directly influences the company, if not controls it outright.

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