World Economy

Russia to Press on With Privatization

Russia to Press on With PrivatizationRussia to Press on With Privatization

Russia will press on with major privatizations this year, senior government officials said on Monday, after the sale of a further 10.9% stake in diamond company Alrosa raised 52.2 billion rubles ($813 million), Reuters reported. The deal, the largest state ownership sale for almost four years, is being heralded as a success by the government—especially as it comes after a period during which investor sentiment towards Russia has been soured by low oil prices and Western sanctions over Russia’s actions in Ukraine. But it remains to be seen whether other state sell-offs planned for this year will be as straightforward.