Russia May Sell Rosneft as Medvedev Urges More Privatization

Russia said it may surrender state control of its largest oil producer as President Dmitry Medvedev urged a bigger privatization program to lure investors and speed up the lowest rate of growth among major emerging economies.

“The dominance of state-controlled companies in a considerable number of industries” is limiting enterprise and investment and threatens to make Russia less competitive, Medvedev said today at the St. Petersburg International Economic Forum. “This economic model is dangerous for the future.”