OREANDA-NEWS. The government of Russia plans to use the means of the National Wealth Fund (NWF) to redeem the Central Bank’s stake in Sberbank. This was reported by Reuters agency citing a source familiar with the details of the negotiations and a state banker.

The deal is expected in the first half of 2020.

The funds of the NWF, which will be sent to the Central Bank, will return to the budget, Reuters’ sources say. According to them, if the deals are finally agreed, the Ministry of Finance will act in it on behalf of the government. One of the interlocutors said that Sberbank shares on the balance sheet of the Central Bank are recorded at a cost significantly lower than a market price. Therefore, the Central Bank will get a profit, and it can easily be transferred to the budget by law.

At the same time, the Central Bank expects to sell its stake at a market price, as a source within the financial regulator said.

Sberbank refused to comment the situation.