MOSCOW, May 17 (UPI) -- The privatization of Russian oil company Bashneft may be developing as early as the first part of this year, a development minister said.
The Kremlin has been reviewing privatization options as the Russian economy risks lingering in recession because of the strains brought on by Western sanctions and low crude oil prices. Last month, Russian Economic Development Minister Alexei Ulyukayev said the potential exists for the government to unload its entire share in state oil company Bashneft.