Central Bank of Russia selling half its stake in Sberbank

RUSSIA / FSU POLITICS - In Brief 14 Feb 2020 by Alex Teddy
On February 11 it was announced that CBR is selling 50% of its stake in Sberbank. The foreign exchange assets that are the proceeds of the sale will be utilized to purchase RUB over the next few years. The government is now breaking its fiscal easing rule. Until now oil revenue from prices north of USD 42 a barrel went to the National Welfare Fund.

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