Rustem Khamitov: "The republic is not planning to sell its stake in Bashneft"

UFA, 26 May 2016. /Bashinform News Agency, Alexander Smirnov/. Bashkortostan has no plans to sell its 25 percent stake in Bashneft owned by the Government of the republic. The Head of the Region Rustem Khamitov announced this in his interview to "Interfax-Volga" agency.

“Of course, the republic does not intend to sell its stake. The current situation seems optimal for the government and citizens of Bashkortostan. Bashneft works well, the economic performances of the company are good - the budget of the republic following the year 2015 will receive good dividends of several billion rubles,” said Rustem Khamitov. "In addition, Bashneft carries out a scale charitable work in support of the sport and the oil-producing municipalities. We closely cooperate with relevant federal authorities on issues of oil and its processing. Our representatives work in the board of directors of the corporation. We have good relations with the management; we discuss jointly the strategic development of Bashneft".

However, the Head of the Republic did not rule out a possibility of changing the position on this issue in the future.

“If a 50 percent federal stake is sold, and we see that the new shareholder does not execute our terms on dividends, on charity issues, then maybe we will make adjustments to our policy on this issue”, said the Head of Bashkortostan. “We are constantly monitoring the situation, we know what is going on, we defend our position in the federal ministries and the Government and we will choose the best option for our republic basing not on the preferences and wishes of local authorities, but to the benefit of our republic and its inhabitants.”