A deepening recession, a ballooning budget deficit and Brent crude at around $30 a barrel have weakened the oil-reliant economy and forced Putin, who has tightened his grip on the state, to mull privatization. President Vladimir Putin is considering selling stakes in some of Russia’s state jewels to foreign buyers to raise cash for an economy brought to its knees by the collapse in oil prices and sanctions related to Ukraine. Investors are dubious. On the surface, an opportunity to buy into such firms as the country’s largest oil producer Rosneft OJSCand rail monopoly Russian Railways JSCwould seem almost too good to be true. Potential buyers see many obstacles that could prevent any deals from happening, not the least of which include Russia’s track record in mismanaged sales and the uncertain role of the state in new ownership structures. “I will believe it when I see it,” said Pavel […]