Russia is preparing to sell its stake in one of the country’s largest port operators as the government looks for additional revenue to shore up a federal budget strained by a widening deficit and slowing economic growth.
The planned sale of a 20% state stake in Novorossiysk Commercial Sea Port (NMTP) follows the inclusion of a government stake in flagship carrier Aeroflot in Russia’s privatization plans, signaling a renewed effort by Moscow to raise funds through asset sales.
Prime Minister Mikhail Mishustin signed a directive on May 23 authorizing the inclusion of the NMTP stake in the privatization program for 2026-2028, the Interfax news agency reported.
The move comes as Russia’s budget deficit reached nearly 6 trillion rubles ($84 billion) in January-April, significantly exceeding the government’s full-year target and increasing pressure on authorities to find additional sources of revenue.
NMTP controls several strategically important assets, including the Novorossiysk oil terminal on the Black Sea and the Primorsk terminal on the Baltic Sea, which together handle almost half of Russia’s crude oil exports.
