Russia's Bashkortostan to sell remaining Bashneft shares to Rosneft

The Republic of Bashkortostan will sell its remaining stake in Bashneft to Rosneft, the head of the republic, Radiy Khabirov, has said.

Speaking at a meeting with journalists, he noted that when there is a shortage of funds, it is a natural process to sell what you own, since borrowing on the market is expensive, Caliber.Az reports, citing Russian media.

“We sold the first part of the stake in Bashneft to Rosneft, and now we plan to sell the remaining part to it,” he added.

In early June, Bashkortostan Prime Minister Andrei Nazarov said the republic had sold part of its Bashneft stake with an option for a buyback “when the republic has such an opportunity.” Rosneft was the buyer.

The value of the stake sold by the oil company amounted to 14.8 billion rubles ($178.4 million), acting regional Finance Minister Svetlana Malinskaya said.

Rosneft and Bashkortostan are among Bashneft’s main shareholders. Until mid-2026, Bashkortostan held a blocking stake of 25% plus one share, comprising 44.4 million Bashneft shares — 38.1 million ordinary and 6.3 million preferred shares.

Rosneft held a controlling stake of 57.66% in Bashneft, while another 4.41% was owned by Bashneft-Invest LLC.

By Bakhtiyar Abbasov