MOSCOW, February 2. Russian President Vladimir Putin has authorized transactions with RussNeft shares, according to an order on the website of the official publication of legal acts.
«Allow transactions (operations) entailing directly and (or) indirectly the establishment, change, termination or encumbrance of the rights of ownership, use and (or) disposal of shares of the public joint stock company oil and gas company Russneft, the document says.
The source said that the decree is needed to complete the transaction to exit the capital of Russneft from the Swiss Glencore, which owned 23.46% of the authorized capital, or 31.28% of the company’s ordinary shares.
< br />The head of Russneft, Evgeny Tolochek, reported in September that Glencore withdrew from the capital of Russneft in mid-2022. However, to complete the transaction, permission from the President of the Russian Federation was needed.
RussNeft is one of the largest companies in terms of oil production in Russia. Its assets are concentrated in key oil and gas regions of the Russian Federation (Western Siberia, the Volga-Ural region and Central Siberia), as well as in Azerbaijan.