Support The Moscow Times!

State Assets Support Siberia

Russia may consolidate government holdings valued at more than 500 billion rubles ($17 billion) in a state corporation to spearhead the development of Siberia and the Far East, Kommersant reported.

The Economic Development Ministry has proposed transferring assets including a 15 percent stake in Russian Railways, 18 percent in Alrosa, 15 percent in Federal Grid Company, 14.8 percent in Inter RAO and 15 percent in RusHydro. A working group headed by Deputy Economic Development Minister Alexandra Levitskaya is due to draw up documents to create the new entity by the start of next week.

Emergency Situations Minister Sergei Shoigu, who first outlined the plan to create the entity in January, is a candidate to head the company.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.