The Russian oil company is stepping up

On the one hand, the sword of sanctions on Russia, on the other hand, the Russian oil company Rosneft has announced huge dividends in the stock market. Russia moved forward by pointing the thumb at the West in such inconsistencies.

Trade Desk

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Rosneft announced a dividend of 23.63 rubles per share for investors in the second half of 2021, according to a notice on the London Stock Exchange on Monday (May 30). Rosneft also announced a record dividend of 41.66 rubles per share for the entire year.

As of 2021, Rosneft has made record profits. The shareholders of the company will get 50 percent of the profit as per the previous pledge. In this regard, the shareholders will participate in the recommendation vote on the dividend on the 30th of next month.

Rosneft is the largest oil company under the Russian government. 40 percent of the company is owned by the Russian government. In this way, the Russian government is getting a big share of Rosneft's profit. While the West has been desperate to cut off all Russian money from the beginning, Rosneft's profits have been a blow to the West.

Read more: Russia bans 963 Americans, including Biden

Meanwhile, in March, Russian President Vladimir Putin said that all transactions with hostile countries would be done in rubles. As a result, foreign investors in Rosneft will have to pay dividends in rubles instead of dollars in order to receive dividends.

The announcement of Rosneft's dividend comes on the heels of a decision by the European Union to limit 90 percent of its oil trade with Russia this year. It is expected that the decision of the European Union will increase the price of oil in the world market by 60 percent.

Earlier, Russia's largest gas company Gazprom announced the highest dividend on Thursday (May 26). A similar announcement by Rosneft five days later suggests that Russia's oil and gas trade is thwarting the West's plans and taking huge profits at the tip of the West's nose.

Source: Insider