Kasyanov approves of Slavneft sale at Cabinet meeting

The sale of the state stake in Slavneft and a 5.9-percent block of shares in LUKoil will provide stability of the Russian financial reserve and settle the problem with foreign debt payments in 2003, Russian Prime Minister Mikhail Kasyanov noted at the opening of a Cabinet meeting today. The problem of "peak payments" next year has been practically settled, he said.

The Prime Minister congratulated the government on the approval of the 2003 budget. "We are entering the year 2003 with a clear financial plan and clear financial policies," he stressed.

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