Russian Finance Minister Anton Siluanov attends a session of the Gaidar Forum 2016 'Russia and the World: Looking to the Future' in Moscow, Russia, January 13, 2016. REUTERS/Maxim Shemetov
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The Russian government is looking to privatize a 19.5 percent stake in state oil giant Rosneft to ease a budget crunch as oil prices slide, Finance Minister Anton Siluanov said Saturday.Cutting ownership in Rosneft, a sprawling energy holding in which state ownership is now 69.5 percent, has been discussed by the government for years.Siluanov has said that the government seeks to raise around a trillion rubles (about $12.9 billion at current rates) through a renewed privatization drive.While Russia still has a sizeable "safety pillow" in form of massive reserves to balance its budget, Siluanov cautioned that the money may deplete quickly.
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