Monday, May 21, 2007

Putin Urges Russian Government to Buy Domestic Stocks With Extra Oil Cash

(Bloomberg) -- President Vladimir Putin urged the
Russian government to bolster the country's flagging equity
market by pumping surplus oil revenue into domestic stocks.

Ministers should consider buying Russian ``blue chips''
with excess oil revenue instead of foreign securities, Putin
said at a Cabinet meeting in Moscow today, which was broadcast
on NTV television.


Read more at Bloomberg Emerging Markets News

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