Kirill Dmitriev, Chief Executive Officer of Russian Direct Investment Fund (RDIF) said that the fund had opted out of participation in Public Joint Stock Oil Company Bashneft (MISX:BANE) privatization due to the price requested for the company's shares. "RDIF and international partners will not be participating in Bashneft privatization due to the fact that the amount of funds requested for the company's stake seriously exceeds the initial estimate," he said.