The Russian government no longer has a majority stake in Rosneft for the first time in the energy giant’s 27-year history. On March 28, Rosneft announced that it had sold all of its assets in Venezuela as part of a deal with the wholly government-owned company, Rosneftegaz. The sale is designed to shield the company’s Venezuelan operations from further U.S. sanctions, while still allowing Moscow to continue its support of the disputed rule of President Nicolas Maduro. But by continuing Rosneft's slow and steady shift toward privatization, the passing of this threshold could also open the company up to a more market-driven and prosperous future. Influence Beyond Control The reduction of the government’s stake in Rosneft will boost the collective strength of private stakeholders in the company. Prior to the sale of Venezuelan assets, the Russian government held just over 50 percent of Rosneft’s shares.