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President Dmitri Medvedev launched a trial balloon over a partial sale of oil giant Rosneft.
Rosneft currently produces almost 25% of Russia's oil.
He says Russia MAY sell some of Rosneft.... and surrender state control of the large oil producer by reducing its stake...to below 50%.
Medvedev wants to speed-up privatizations to lure foreign investors and lagging growth.
“The dominance of state-controlled companies in a considerable number of industries” is limiting enterprise and investment and threatens to make Russia less competitive, Medvedev said. “This economic model is dangerous for the future.”
Russia wants to raise at least $36 bn usd in the next 3 years...by selling state assets.
