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China Denied Its Loan To Rosneft

The government of China confirmed Thursday

China Denied Its Loan To Rosneft

The government of China confirmed Thursday that it did not lend any money to Russia?s state oil firm Rosneft for its purchase of former Yukos core production unit Yuganskneftegaz.

Yesterday a Rosneft official said that China would loan $6 billion for Rosneft?s oil supplies to China, but the money has not been used to finance the purchase of Yuganskneftegaz.

Foreign Ministry spokesman Kong Quan confirmed that China has not provided any loans to a Russian oil company to purchase any stake in Yuganskneftegaz. However, he declined to confirm whether China had offered Russia $6 billion in loans.

The statement dismissed comments from Russian Finance Minister Alexei Kudrin on Tuesday that the money had been used to finance Rosneft $9.4 billion purchase of Yugansk.

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