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Sechin denies allegations of Rosneft’s involvement in ruble's collapse

17:07 16/12/2014

MOSCOW, December 16 (RAPSI) - Igor Sechin, CEO of state-run oil company Rosneft, denies allegations of his company’s involvement in ruble's collapse, Interfax reported on Tuesday.

Earlier in the day, some Russian political and public figures, including former Finance Minister Alexei Kudrin, alleged that the ongoing plunge of national currency was aided by Rosneft's massive buyout of the dollar, with the bailout funds recently allocated by the Russian government.

After Rosneft President Igor Sechin dismissed the rumors of his company’s involvement in the ruble collapse, the US dollar and euro stopped growing and retreated by more than seven rubles from their earlier peaks.

“I would like to comment on the allegations regarding Rosneft’s so-called involvement in the collapse of the Russian foreign currency market. These rumors are a provocation,” Sechin told journalists this Tuesday.

He claims that, on the contrary, his company “is making a contribution to stabilizing the currency system.” Sechin says “it is an issue to resolve with the interested parties and provokers.”

“These people, these Navalnys, Nemtsovs and Kudrins (Russian opposition stalwarts - ed.) must be found and their goals revealed,” Sechin added.

The Bank of Russia does not plan to introduce any administrative restrictions in the foreign currency market, Head of Central Bank Elvira Nabiullina announced on Rossiya-24 tv channel. The ruble is currently highly underrated, and it will take time to get back to an equilibrium rate, she believes.

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Sechin denies allegations of Rosneft’s involvement in ruble's collapse

17:07 16/12/2014 Rosneft CEO Igor Sechin denies allegations of his company’s involvement in ruble's collapse.
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