Support The Moscow Times!

Russian Finance Ministry Pooh-Poohs Gazprom Recapitalization Plan

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."

See also:

China and Russia Sign Gazprom Supply Agreement

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.