Russia needs money from Rosneft stake sale this year Rosneft may buy back its shares from state, for resale later Russia’s largest oil producer may help the state by buying back shares from the government this year and reselling them later, a step that would finally make privatization of the company “real,” President Vladimir Putin said. If Rosneft PJSC buys the shares, it’ll be “an intermediate step toward the genuine privatization,” the president told reporters at the BRICS summit in Goa, India, on Sunday. While the nation needs money this year amid a slump in oil prices, Rosneft may offer the shares later in a sale to be supervised by the state, including possibly to foreign investors, Putin said. “We are not going to build the state capitalism,” Putin said. “We will go on the privatization path, but not in a falling market.” Russia is returning to asset sales […]