MOSCOW —Sold in Russia this summer: a recovered asset, loved and maintained by people.Sellers have motivationEverything must goIn the fire, the asset was Bashneft, which once owned Vladimir Yevtushenkov, who was charged and placed under house arrest.The seller is in urgent need of cash from the Russian government.Investors will bite their teeth at the right price.But the sale and dozens of other deals across Russia will boost Russia's reputation in the global uncertainty market.Early in his tenure, President Putin introduced a policy to control the commanding heights of the economy, nationalized it, and squeezed Russian and foreign owners out of strategic industries.Now he is inviting investors back as Russia faces the second year of economic impact of Western sanctions and sluggish commodity prices.About PoliticsFace, part of a seemingly endless cycle between nationalisation and privatization in Russia, has increased investor concerns about being kept in the dark.Later in the early daysPrivatization was seen in the Soviet erain-a-Opportunity for a lifetimeBut under Putin, these opportunities are happening over and over again.Full circle after circle.Bashneft Russia 6The largest oil company was privatized for the first time in a series of sales in early 2000.When Yevtushenkov was placed under house arrest in 2014, it was nationalized.Sales are starting again now."Any buyer today should understand the risks," Aleksandr Abramov, professor of finance at Moscow's Higher School of Economics, said of a recent plan to resell a 51% stake in Bashneft."After a few years, the transaction may also be lifted for one reason or another.This uncertainty is an important reason why investors are wary of the Russian stock market.Think about the different views of Brazil and Russia.Both developing countries are commodity exporters facing severe economic difficulties.But according to Renaisance Capital, the Moscow investment bank, investors are willing to pay for a Russian company at about half the cost of a Brazilian company with the same profit potential.Russian state-owned company Gazprom is an example of Russian stocks.It was once the oil giant of China's largest oil company.Last week, Gazprom's market capitalization was $52 billion, down from its May 2008 peak of $367 billion.In the early 1990 s, during the transition from communism to capitalism, Russia's strong oil, mining and industrial holdings looked very cost-effective.The government tries to create a shareholder society from the ruins of the Soviet Union by giving everyone a voucher to represent the state StockOwn business.But the chaotic effort basically failed.Before the 1996 election, President Boris Yeltsin tried to get money and tried a new way to cater to the wealthy.He sold the cheap company to a new rich Russian.On the eve of the new year of 1999, after Putin took office, he vowed to "destroy these oligarchs as a class.Three years later, police arrested Mikhail khodorksky, then Russia's richest man and owner of Yukos oil.The main oil asset is the Russian oil company, a state-owned oil company.The privatization of Russian oil;In 2006, the state sold 13% pounds on the London Stock Exchange.Foreign investors have also been hurt.In 2006, Russian regulators forced Western oil giant Shell to sell its 25% stake in the Sakhalin oil field after it threatened to close the Sakhalin oil field due to environmental violations.The threat disappeared after the state-owned gas giant Gazprom took control of the oil field.This is Shell's second time.The agenda of Russia.The company's oil assets in the country were nationalized in 1918 and Shell was only partially compensated by the Soviet government.The story of Bashneft is perhaps the most tangled.In 1993, when Yeltsin tried to please local leaders, the Russian government handed over Bashneft to the regional government of bashkotostan.In the 2000 s, local governments sold shares to an elite company in Urals.Invest.According to oil analysts, Yevtushenkov has steadily increased his stock holdings through a holding company called Sistema in the next few years, and the deals must have been approved by the Kremlin.Then the government changed its mind.At 2014, the prosecutor claimed that the original transfer of the company21 years ago-It is illegal for a regional government.All subsequent transactions were voided.A series of criminal and civil cases that followed left Mr. Yevtushenko in trouble.His shares were handed over to the state.Yevtushenkov was finally approved in a ruling at the end of last year.Sistema won $0.95 billion in a lawsuit against former owner UralsInvest.A spokesman for Sistema declined to comment.The views of overseas investors in Russia on Bashneft have also changed.In April, despite the oil reserves of 2, Putin removed Bashneft from the list of strategically important companies.2 billion barrels.The move cleared the way for the company's potential sales to overseas investors.The for-Sales signs rose sharply again.Along with Bashneft, the government plans to issue shares in the shipping company Sovcomflot;Arossa, diamond miner;VTB, National Bank;Russian oil, the national energy giant.Investors are already looking around.Rosneft, an oil company run by former chief executive of Rosneft, announced plans to bid for Bashneft.Executives and government officials in India and China say energy giants in these countries may be interested in buying shares in Russian oil companies.The $36 billion deficit government needs funds to cover Russia's projected deficit of $36 billion this year, up from $31 billion last year.Privatization is one of the few ways the government raises money.Western sanctions against the crisis in Ukraine have made it difficult for Russia to sell bonds, a common way for the government to make up for budget shortages.While the U.S.Instead of explicitly declaring Russian bond trading illegal, the Treasury told US banks not to underwrite.Last month, at a meeting of the president's economic advisers, former economic minister Alexei Kudrin said the Kremlin had stimulated growth by easing international tensions, another option for privatization.Putin responded that Russia would not "bargain" with sovereignty "."Russia insists that the government will do better this time with the implementation of the privatization plan.Dmitry Pristanskov, director of the federal state property agency, who oversees the work, said,The process was contaminated by corruption, and sales in the Soviet Union were reduced in part."At that time, 25 years ago, there was no clear standard for selecting investors," Pristanskov said .".He said that the state now carefully examines whether potential buyers have defects such as criminal relations or weak compliance departments, limiting the risk of future breakdown."That's exactly what we do today.