Russia to sell state assets to boost economy

Russia is preparing to sell state-owned assets to raise funds for its struggling economy. This decision comes as the country faces increasing Western sanctions. Finance Minister Anton Siluanov announced plans to privatize stakes in several large companies. Siluanov stated that the government aims to generate at least 100 billion rubles, or about £917 million, through these sales this year. He is reviving a privatization campaign from 2010 that was previously stalled. The government is focused on selling shares in 30 state-owned companies while keeping control over them. The privatizations include stakes in industries such as military, engineering, food, and ports. However, some experts are skeptical about the plan. Vladimir Milov, a critic of President Putin, believes potential investors will be uninterested. He argues that minority ownership offers little control and influence over the companies, rendering the investment unattractive. Additionally, Russia's government has been moving to seize assets from certain companies, with claims that they threaten national security. This strategy reflects the Kremlin's efforts to manage the economic fallout from sanctions while maintaining tight control over key industries.