Russia has announced further details of plans for its biggest privatisation since the 1990s – which could rise up to 1.8 trillion roubles. The sale could involve the total or part-sale of stakes of up to 900 companies, including the oil giant Rosneft and Russian Railways. The announcement was made by Russia's First Deputy Prime Minister, Igor Shuvalov. Among the details given, Shuvalov said Russian airline Aeroflot may form part of the sell-off. Russia needs to raise money to cut its budget deficit estimated to be 5 per cent of gross domestic product for this year. Russia's last major privatisation was in the 1990s, when huge chunks of former state assets were widely sold.