Bloomberg found out about the plan for Rosneftegaz to place in Gazprombank’s $29 billion

Rosneftegaz, Chairman of the Board of Directors who is the CEO of “Rosneft” Igor Sechin, has received permission to place on deposits in Gazprombank of up to 1.8 trillion rubles ($29 billion), said Bloomberg, citing two sources and papers consulted by the Agency.

The Directive, which the government approved on September 30, provides that “Rosneftegaz” can accommodate up to 1.8 trillion roubles from Gazprombank on Deposit for a period of three years, with any balance of dollars, euros and rubles and stakes of 0.01% per annum, the Agency said, Bloomberg writes with reference to documents.

According to the Agency, the origin of 1,8 trillion roubles in documents is not specified, but rather indicates that this amount is accounted for 63.5% of the book value of the assets of Rosneftegaz at the end of 2015.

In the “Rosneftegaz”, Gazprombank, Ministry of economic development, office of the Vice Prime Minister Arkady Dvorkovich, who prepared one of the documents referenced by the Agency, to requests for comments did not answer, writes Bloomberg. The representative of Gazprombank refused to comment on the RBC news Agency.

Rosneftegaz is 100% state owned. He’s owns 69.5% of Rosneft, 10,97%, “Gazprom” and 26.3% “inter RAO”. Rosneftegaz does not conduct operating activities by accumulating the dividends for packages in state-owned companies. In 2013, Rosneftegaz received $4,87 billion (about 150,7 billion at the exchange rate on the date of the transaction) from the sale of 5.66% of shares of “Rosneft” British BP. As he wrote in the spring of RBC Igor Sechin in a letter to President Vladimir Putin pointed out that the money is in the accounts of “Rosneftegaz”.

Until the end of 2016, the government plans to sell 19.5% stake in oil company, received at least 700 billion rubles ($11 billion). “The sale of “Rosneft” is carried out through the company “Rosneftegaz”, and the money this company directly act in accordance with our rules and laws in the budget of the Russian Federation”, — said President Vladimir Putin at the investment forum “VTB Capital” “Russia calls!” in early October.

The Finance Ministry also proposed to remove the budget all dividends of “Rosneftegaz” and not a half or a quarter as before. But in the development of the draft Executive order on withdrawal of dividends officials are faced with the difficulty: they were not able to estimate how many from “Rosneftegaz” money, reported “Vedomosti”.

In March, Rosneftegaz changed the registration form from open joint stock company (OAO) private joint-stock company (JSC). According to the new wording of the Civil code, the company got the right not to disclose any information, including annual reports which she published, being in the status of the stock. Now information about its activities, the company will disclose only if you want to its shareholder — the state, wrote “Interfax”.

“Vedomosti” with reference to the correspondence of officials wrote that “Rosneftegaz” has ignored the requests of the Federal property management Agency to provide the investment program. The General Director of “Rosneftegaz” Gennady Bukayev in a letter to the head of Rosimuschestvo Dmitry Britanskomu alluded to by the newspaper, said that the company reports directly to President Vladimir Putin.

In turn, the press Secretary of the head of state, Dmitry Peskov, said that in General Putin “has the pattern” on the financial status of “Rosneftegaz”. “I don’t think he has all current information, but overall his presentation is,” — said Peskov.

RB 1.8 trillion on Deposit — this amount is matched only by the “potbelly” of “Surgutneftegaz” which by the end of 2015, increased financial assets by 1.3 times to 2.6 trillion rubles. But from 1 January to 30 June 2016 deposits “Surgutneftegaz” placed in banks has declined by 9.47%, to 2.23 trillion rubles, follows from the report of the company for the first half according to IFRS. The company holds a multibillion-dollar amount of dollar deposits, and therefore fluctuations in exchange rates directly affect his profit: with the strengthening of the ruble against the dollar the company’s profits began to shrink.