Reports: Russia to sell 15 percent in Rosneft

MOSCOW — Russian news agencies say the government has announced plans to sell up to 15 percent in top oil producer Rosneft next year for around $6.7 billion.

RIA-Novosti and Interfax cited Economy Minister official Alexei Uvarov as saying the privatization of a swathe of state-owned assets could raise up to $40 billion by 2014.

Other government entities to be sold include a 10 percent stake in lender VTB, 4.1 percent in electricity transmission company Unified Energy System, and 25 percent of shipping company Sovcomflot.

Uvarov is quoted as saying the government’s privatization drive will raise $10 billion in 2012. The government hopes to earn a further $12.8 billion in 2013, and $16 billion in 2014.