(MENAFN) Russia's oil producer Rosneft said that it had met a USD7 billion loan repayments, partially easing fears amid investors of Western sanctions overshadow, The Peninsula Qatar reported.
Russia's top oil producer Rosneft has asked for USD44.07 billion from the government to help it survive sanctions and refinance its debts, but the government is yet to decide how much money to give.
Analysts say the firm is too big for the state to allow it to fail and point to its successful sale earlier this month of USD11.13 billion worth of domestic bonds, the bulk of the company's current planned debt refinancing.
"To service its debt, the company does not need to enter the currency market, because it generates enough foreign currency earnings. Surplus balances are used on the market, in such a manner," Rosneft Chief Executive said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.