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15

Gazprom Received First Payments For Shares

The payment was financed from borrowing by Rosneft

Russian gas monopoly Gazprom confirmed on Friday it had received 16.2 billion rubles ($567 million) as the first payment for a sale of its 10.74 percent of its shares to the government.

The payment was financed from borrowing by Rosneft, which in turn lent money to Rosneftegaz, according to Economic Development and Trade Minister German Gref.

He said it was a temporary arrangement until agreement was reached with investment banks.