Siluanov: the government may consider the mechanism of nationalization to save businesses

WASHINGTON, April 20. /TASS/. The government has no plans to nationalize RUSAL because of U.S. sanctions, but the mechanism can be considered for other podcasting companies, told reporters Finance Minister Anton Siluanov on the sidelines of the Spring meetings of the International monetary Fund (IMF) and world Bank (WB).

“No, not yet considered (the nationalization of “RUSAL”)”, – he said.

At the same time to save some companies the option of nationalization can be considered, the Minister said. “As a principle of support – unable, perhaps, to consider the nationalization of some token amount to keep the production work team and so on. In General, can be considered, if the owners fell under the sanctions”, – he explained.

In addition, until the government is considering the purchase of aluminum in a state Fund to help “RUSAL”, said Siluanov. The Minister said that the company asked the government for help with liquidity and demand for products, and now these proposals will be considered. Help with demand can be provided by increasing the procurement of Gas, added Siluanov.

Support not directly

The Finance Ministry has no plans to create separate expenditure item of the Federal budget to help sanctioned companies and to allocate funds to support directly the head of Department.

“We are talking about budget support, but indirectly through the purchase of the product. While we see no need (in a separate item of expenditure in the budget – approx. ed.)”, – said the Minister.

Siluanov noted that PSB can provide liquidity to the sanctioned companies, which has already requested 100 billion rubles of liquidity.

“Help, we have a number of companies sought in the form of liquidity, I think that may support PSB. The assistance can be provided in the form of pre-financing, suppose that the same car recycling fee, which we list a few of the companies targeted by the sanctions, can be Pro-actively, and they can use the money as current assets”, – he said, adding that the support can also be provided in the form of public procurement.

Siluanov stressed that the company asked for “a considerable sum – about 100 billion rubles” liquidity. “We are not going to give money to the capital. Primarily, this assistance should be aimed at support of labor groups, who work there,” added the Minister.

The government still sees no need to allocate a special budget to help sanctioned companies, said Siluanov. “We are talking about budget support, but indirectly through the purchase of the product. While we see no need (in a separate item of expenditure in the budget – approx. ed.)”, – said the Minister.

The U.S. government on April 6 announced the introduction of new sanctions against several Russian officials, businessmen and companies. Among them was the head of “Gazprom” Alexey Miller, the head of VTB Andrey Kostin, the owner of “Renova” Viktor Vekselberg, the General Director “Surgutneftegaz” Vladimir Bogdanov, Board member of “SIBUR” Kirill Shamalov, businessmen Igor Rotenberg and Oleg Deripaska, Suleiman Kerimov.

In the list of companies, several related Deripaska: Agroholding “Kuban”, “the EuroSibEnergo”, “RUSAL”, the holding “Russian machines” and “GAZ Group”, the investment company B-Finance, holdings Basic element and En+. In addition, the list includes the group “Renova” Vekselberg “Ladoga management” Shamalov Bank “Russian financial Corporation” (owned by “Rosoboronexport” is also mentioned in the list), and NPV Engineering “Gazprom Burenie” Rotenberg.

German business and duties on aluminium

The release of German companies from the sanctions on the purchase of Russian aluminium will become the best solution for German business and for Russia, said Siluanov.

“The Germans asked to sanction the solutions, there is the possibility of exclusion. If such decisions take place – it’s a win-win solution for German buyers of aluminium, and for our enterprises”, – said the Minister.

As reported earlier, the U.S. edition of the Wall Street Journal, the German authorities intend to appeal to the President of the United States Donald Trump for the release of German business to use anti-Russian sanctions. We know that this issue will be discussed with American colleagues, German Finance Minister, Olaf Scholz. The American edition emphasizes that the economic restrictions at a meeting with trump in late April, also wants to raise and the German Chancellor Angela Merkel.