The Russian government has dropped Russian railways and the Federal mortgage agency, from the list of companies it is preparing to sell stakes in, and in the process raise $29 billion.

If you want some of Russia's blue chips – oil giant Rosneft, or say the largest bank Sberbank – now is the time – The government is considering selling minority stakes in 8 of Russia's leading companies.

Some call it the biggest privatization since the 1990s – but Natalya Orlova, Chief economist at Alfa Bank, says it is very different from what took place in the 1990’s.

“Definitely we are talking about privatization of minority stakes, and this is much different from what we have seen in Russia taking place in 90’s, or privatization in the general sense. Because usually when we are talking about privatization, we assume some sale of assets to strategic investors. In Russia's case now we are really talking about government intention to increase free float of the state owned companies.”