The Russian oil company Russneft confirmed on Sunday, it is close to reaching a deal, ceding control to billionaire Oleg Deripaska. His asset-management firm, Basic Element, has applied to the Federal Antimonopoly Service to buy control of the private oil
Russian newpapers report that Deripaska's firm will pay around $US 6.5 BLN for Russneft, and assume its debt. Tax officials are pursuing a string of claims against Russneft and its owner, Mikhail Gutseriev, and analysts say the firm is likely to end up under state control.