December 27, 2017 / 9:09 AM / a year ago

Russia's RDIF to loan $696 mln to Sistema to settle Rosneft dispute

MOSCOW, Dec 27 (Reuters) - The Russian Direct Investment Fund (RDIF) will provide a 40 billion rouble ($696 million) short-term loan to the Sistema conglomerate to help settle a dispute with oil producer Rosneft, the fund’s head Kirill Dmitriev was quoted as saying on Wednesday.

Dmitriev told the Interfax news agency that Sistema’s assets will be put up as a collateral for the loan.

Sistema will pay 100 billion roubles to resolve a dispute with Russia’s largest oil producer Rosneft over the Bashneft oil company, under a settlement announced by both companies on Friday.

$1 = 57.5124 roubles Reporting by Oksana Kobzeva; Writing by Vladimir Soldatkin; Editing by Louise Heavens

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