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World

Putin boasts he returned Gazprom to state control

Published Updated

vladimir-putinNOVO-OGARYOVO: Russia's Prime Minister Vladimir Putin on Monday claimed the return of state shareholder control over Gazprom as a victory of his years in power, though he hinted that process could be reversed eventually.

Under Russia's first post-Soviet president, Boris Yeltsin, Gazprom was not majority owned by the government but the state maintained effective control over the state gas export monopoly through a string of decrees and regulations.

"At one point we almost completely privatised Gazprom, and your faithful servant returned Gazprom to state control," Putin said at his suburban residence. "That is a separate discussion, but someday we will make a transition to Gazprom working under a different regime."

He did not clarify what he meant by "a different regime", nor did he say directly that Gazprom could be privatised.

Copyright Reuters, 2012

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