Putin Opposes “Energy Monster”

Russian President Vladimir Putin has said he is against the creation of state energy “monster” that would straddle the entire economy, sucking away banking and other resources, the Kremlin has reported on Thursday.

When asked about a possible merger between state controlled Gazprom (the world’s biggest gas company by reserves, and Rosneft, Russia’s largest oil firm, Putin said he had heard nothing about a such a plan.

“I do not know about any rumors about a merger between the two companies with state participation,” Putin was quoted as saying by the Kremlin. “I do not consider that we should create a monster, which would dominate throughout Russia’s economy and would drain all the resources, including banking resources, like a vacuum cleaner”.

That’s pretty clear then.