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Russia demands €12.7m deposit from each Lukoil bidder

The Russian government is demanding an upfront deposit of $15m (€12.7m) from every prospective bidder interested in buying its 7.6% stake in oil giant Lukoil for more than €1.6bn.

It is selling the stake through the Russian Federal Property fund, opened the auction on Monday and set a deadline of September 27 for all bids.

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