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Russian Finance Ministry Pooh-Poohs Gazprom Recapitalization Plan

By The Moscow Times

June 18, 2014

The Finance Ministry currently sees no need to recapitalize Gazprom, Finance Minister Anton Siluanov said Wednesday.

Earlier this month, President Vladimir Putin floated the idea that Gazprom could be recapitalized from Russia's foreign exchange reserves to finance the $55 billion needed to build pipelines to China.

"For the time being, we see that Chinese banks are providing loans to Gazprom … For the time, being there are resources in order to build …" Siluanov told journalists. "Therefore there is no basis to say that Gazprom — a powerful company — is in need now."

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