Russia’s Privatization List Targets State-Backed Giants
The Ministry of Finance of the Russian Federation has published a shortlist of roughly 30 major companies that still have significant state participation and could be considered for privatization. The disclosure came from Anton Siluanov, the head of the ministry, during a broadcast on Russia 24.
Siluanov explained that the list focuses on enterprises where the government holds more than a 50 percent stake. The ministry envisions reducing the state’s share while keeping a controlling interest. He argued that private investors often bring stronger incentives to improve asset management, trim expenses, and drive higher profits. In his view, even if partial privatization takes place, the resulting efficiency gains can be substantial.
“The potential value could reach tens or hundreds of billions,” Siluanov said. “The government has the list; further discussions are needed.” Source: Ministry of Finance, Russia [Attribution: Ministry of Finance, Russia]
Earlier in the year, Andrey Kostin, the chairman of VTB, urged continuing Russia’s privatization program. He noted that advancing privatization would help mobilize funds for financing new investment projects and spur long-term growth in the economy. Source: VTB leadership statements [Attribution: VTB Bank]
There has also been a prior stance from Russian officials to hold off on privatizing large corporations. The current moment signals a potential pivot, with policymakers weighing how a partial sale of state-owned shares could bolster capital investment while preserving strategic control in critical sectors. Source: Russian economic policy briefings [Attribution: Russian economic policy]