themoscowtimes.com

Bashkortostan Plans To Sell Remaining Bashneft Stake To Rosneft

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The government of Russia’s republic of Bashkortostan plans to sell the remaining portion of its Bashneft stake to state-controlled Rosneft to help cover a budget shortfall. It follows the earlier sale of a 6.36% stake for 14.8 billion rubles, with Bashkortostan previously holding 25% plus one share and Rosneft 57.7%. The move comes as Bashneft’s Ufa refinery and petrochemical complex faces repeated Ukrainian drone attacks, including three hits in August and a drone-triggered fire.

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