Federal reserve to grow if government's stake in LUKoil is sold

In the event the sale of the Russian government's share package of LUKoil comes off, the financial reserve of the federal budget for 2002 will amount to RUR178.3bn (around $5.66bn), the Finance Ministry reported to RBC. It was pointed out the Russian government would make another attempt to sell its stake in LUKoil in the first or the second quarter of 2003. As it was reported earlier, the expected sale of the government's stake in the Russian oil company did not take place owing to unfavorable market conditions and was postponed until indefinite date.

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