Money from National Welfare Fund not to be given to Rosneft because of anti-crisis plan

Rosneft may not receive money assistance from the National Welfare Fund because of the fight with crisis in the country. The Government has decided to revise the priorities for the allocation of the Fund’s money, federal officials reported to the mass media. First of all, money will be allocated to finance the anti-crisis measures. The decision can affect the already approved projects, except those, in which private investors are willing to increase their share.

"We have entered a phase of the struggle against crisis," - the Vedomosti cites an official of the financial and economic bloc. According to the First Deputy Prime Minister Igor Shuvalov, the anti-crisis plan will require 1.375 trillion rubles, including 550 billion rubles from the NWF (300 in the capital of VEB, 250 for recapitalization of Gazprombank and VTB). Sources of funds to combat the crisis are limited. According to the edition, the Russian authorities may refuse to projects that assistance for which from the National Welfare Fund has already been approved for the benefit of those, where private investors are willing to increase their share.