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Stability of the financial state of Rosneft could give the transition to oil deals with China in yuan - Putin

Russian President Vladimir Putin admitted the possibility of allocating funds from the National Welfare Fund (NWF) to Rosneft, but their volume and conditions will be carefully worked out.

In his comments to TASS, the head of state noted that he had spoken on this score with both the Cabinet of Ministers and the leadership of Rosneft. "The government will make a decision not only based on the needs of the company, which, of course, we value and will help it, of course, but on the basis of how they manage, where they are going to invest these funds and what is the return for the entire economy of the country in case these investments, "he said.

Putin stressed that "this will be a real assessment." “And I do not exclude that some resources may be obtained by Rosneft. But what, in what volume, in what time frame, on what conditions - this requires elaboration, and there will be no fuss here,” the president concluded.

At the same time, the head of state drew attention to the fact that Rosneft has no financial difficulties. “We recently checked the financial condition of Rosneft, there are no problems at all,” he said. Thus, Putin summed up, if a company needs additional money, then "they must prove that if they receive these funds, they will be used for specific purposes, and they will have to show what the return will be not only for the company, but for the entire Russian economy. ".

In particular, Putin noted, the transition to oil deals with China in yuan can give stability to the financial condition. Thus, according to him, during the recent visit of the Russian president to China, Rosneft agreed with its Chinese partners that "one of the leading Chinese companies would enter the Vankor field by 10%." "At the same time, the Chinese will get seats on the board of directors there, but we are also agreeing to trade oil from this field - and there are large volumes there - in yuan. Under these conditions, our Chinese partners will be ready to provide loans and finance many transactions," said the President of the Russian Federation In addition, he continued, in this way it will be possible to get away "from the dictates of the market, which denominates all commodity flows with oil in dollars," and to expand the use of national currencies - both the ruble and the yuan.

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