The State Duma Committee approved a project to purchase shares of Sberbank from the Central Bank

This is reported by TASS.

It is noted that the initiative is aimed at eliminating the potential conflict of interest of the Bank of Russia while combining the roles of shareholder, regulator and supervisor.

Earlier, a bill on the purchase of shares of Sberbank from the Central Bank was submitted to the State Duma.

The Auditor of the Accounting Chamber Alexei Savatyugin said that the agency plans to verify the transfer by the Central Bank to the government of a controlling stake in Sberbank at the expense of the National Welfare Fund (NWF).

On February 13, the Russian government approved a bill on the Cabinet buying a controlling stake in Sberbank from the Central Bank.

The proceeds from the sale of the Central Bank's package in Sberbank will be directed to the budget to finance social initiatives set forth in the president’s message to the Federal Assembly.

The cost of buying a stake in Sberbank will be about 2.5 trillion rubles.