Sechin asked Putin for benefits for Rosneft

Capital requires the bourgeois state to fulfill its duties

During the discussion with Vladimir Putin of the situation in the oil markets, the head of Rosneft, Igor Sechin, asked for a number of benefits for the company he heads, Ekho Moskvy reports. In particular, the billionaire stated the need for tax breaks and milder loan conditions. Earlier, Rosneft proposed to its shareholders to keep the amount of bonuses for the company Director Board at the level of 2019 (from 500 to 600 thousand dollars).

Asking for benefits for Rosneft'
Asking for benefits for Rosneft’

Sechin assured Putin that the proposed measures would allow the company to overcome the effects of the crisis in two to three years and start new projects.

The Rosneft Chairman, who tops the list of the highest paid heads of Russian companies according to Forbes, also appealed to the Chairman of the Russian Government Mikhail Mishustin with a request to reduce taxes for gas projects in Western Siberia. The benefits asked by Sechin can save the company about 7-8 billion rubles a year on mineral extraction tax alone.

The decline in income from trade on the foreign market naturally leads the owners of means of production to strive to make up for their losses through “internal reserves”. Capital will never accept loss of profits. And here are faithful friends, the leaders of the bourgeois state, the President and the head of the Government, who will always give him a reliable shoulder. After all, they themselves are representatives of big capital, put on their posts to defend the interests of their class.