The Finance Ministry has linked the rate of purchase of state-owned Sberbank, with the price of oil

the Speed of completion of the purchase by the government of state-owned Sberbank from the Central Bank of the Russian Federation depend on the level of oil and gas revenues, the national welfare Fund. If oil prices do not fall, then the deal can be completed before the end of 2020, said Finance Minister Anton Siluanov.

the Bank of Russia to sell state-owned parts. The Bank owns 50 percent + 1 share of the authorized capital of Sberbank (52.3% of ordinary shares).

the Government will buy the Bank the government’s stake in Sberbank in about 2.5 trillion rubles.

To this end, the state Duma must pass a bill for the sale of state-owned. The Central Bank and the Finance Ministry has already drafted a document. The first stage of the transaction is scheduled to perform in the near future – for the purchase of the shares of the largest Bank in the country will be sent to 1.2 trillion rubles.

“Half in fact the cost of this package we are ready to pay as soon as passed the relevant legislation,” — said Siluanov. According to him, it can happen in March.

the stake is bought by NWF, and it can be spent only if the liquid assets of the Fund not less than 7 percent of GDP. While the size of the NWF is less than this level. By January 1, 2020, the volume of the national welfare Fund (NWF) increased to 7.8 trillion rubles.

the Ministry receives revenue from taxes, oil and gas companies, and if the revenues above the oil price in the budget, the excess goes into a Fund.

Now the Ministry of Finance will accelerate the transfer of the oil windfall in the national welfare Fund. “Yes, we now quickly do it,” — said Siluanov.

the Remainder of the state planned “to buy either this year following the replenishment of the Fund, or in the next year, as soon as you get the required amount,” — said Siluanov.

“we Have the NWF is accumulated, the oil price above the base price. If this year the price will be above 52 dollars a barrel somewhere, this year we will be able to accumulate the necessary part forKupka whole package of Sberbank”, — said the head of Treasury.

Now the price of oil to the Russian grade of oil lasts about 52 to 54 dollars a barrel. If the price will fall below 52 dollars, the government will have to buy the government’s stake from the Central Bank gradually.

“we Have agreed that we will not buy in installments, us Bank will not transfer the shares in installments. So as soon as accumulate the amount of funds required for the purchase of the second part, just do this”, — said Siluanov.