Rosneft's CEO Says VTB Did Not Finance Share Sale

Wednesday, November 14, 2018

Russian state bank VTB did not finance the recent deal by Qatar to buy a stake in Rosneft and it is verifiable by looking at who has the oil giant's shares as collateral, Rosneft CEO Igor Sechin said on Wednesday.

Reuters reported last week that VTB secretly financed the purchase of Rosneft shares by Qatar's sovereign wealth fund (QIA) this year.

"If it (VTB) did that, it would have the shares as a collateral," Sechin told TV Rain Russian broadcaster on the sidelines of the ASEAN summit in Singapore.

"Check to see if the (Rosneft) shares are at VTB as a collateral and everything will become clear to you. It did not loan to QIA. You have an opportunity to verify that," said Sechin.

VTB on Monday challenged media to a legally-binding bet of 1 billion roubles ($14.8 million) over what it said were incorrect reports it provided Qatar with a loan to finance Rosneft shares sale.

A Reuters spokesman said on Monday: "We stand by our story."


(Reporting by Vladimir Soldatkin; Writing by Andrey Kuzmin; Editing by Mike Collett-White)

Categories: Finance Russia Industry News

Related Stories

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Japan Picks Wood Mackenzie to Assess Trump-Backed Alaska LNG Scheme

PTTEP Greenlights $320M Offshore CCS Project at Arthit Gas Field in Thailand

Subsea7 Secures Work at Black Sea Field off Türkiye

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

PXGEO Nets First Seismic Survey off Malaysia

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Current News

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

Floating Offshore Wind Test Center Planned for Japan

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

PTTEP Hires McDermott for Deepwater Subsea Job off Malaysia

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Japan Picks Wood Mackenzie to Assess Trump-Backed Alaska LNG Scheme

PTTEP Greenlights $320M Offshore CCS Project at Arthit Gas Field in Thailand

Marco Polo Picks Salt Ship Design for Next-Gen Offshore Energy CSOV

CNOOC Brings Online Another Oil and Gas Project in South China Sea

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com