Russian Economy Faces Major Shake-Up [View all]

Russian officials are hoping a privatization plan of state-owned assets, including those seized by court order since the start of President Vladimir Putin's invasion of Ukraine, will boost government coffers after the desertion of Western capital from the sanctions-hit economy.

Vladimir Milov, a Putin critic and former Russian minister, told Newsweek that the proposal to sell stakes in companies would not attract market players because they wouldn't have any influence over state-dominated firms.

The announcement of the privatizations by Russian Finance Minister Anton Siluanov resurrects a stalled 2010 campaign to dispose of state assets and could generate billions of dollars in federal budget revenues.

Newsweek has contacted the Russian Finance Ministry for comment.

https://www.msn.com/en-us/money/markets/russian-economy-faces-major-shake-up/ar-AA1Bty6T