Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed

Glencore International AG is a Swiss trading company, one of the world's largest suppliers of raw materials and rare earth materials.

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed

Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
951
Glob.Revenue, mln.USD
217840
Capital(RF), mln.USD
83
Assets(RF), mln.USD
239

In March 2022, as Western sanctions over Russia's actions in Ukraine started coming into force, Glencore said it would not enter into new trading business in respect of Russian-origin commodities unless directed by the relevant government authorities. It also said it would honour its legal obligations under pre-existing contracts, subject to complying with all applicable sanctions. Has equity investments in Rosneft and others. Glencore sold out of Russneft in 2022, capping two decades of investments which saw the Swiss commodities firm trading millions of barrels of the Russian group's oil even as it witnessed some of Russia's top corporate and political battles. Russia’s largest bank is attempting to seize some of Glencore Plc’s Russian assets as compensation for what it says is an unpaid oil trading debt. The court upheld Sberbank's claim to recover almost 115 million euros from Glencore.

The Company Statement
October 20, 2023

No new trade of Russian commodities. Statement condemning Russian invasion of Ukraine. Maintaining operations in Russia (suspended only new contracts for commodities of Russian origin). Equity stakes in En+ Group (~$645 million) and Rosneft (~$183 million). Glencore delivers Russian-origin aluminium into LME system. Commodity trader Glencore has delivered 40,000 tonnes of Russian aluminium to London Metal Exchange-approved warehouses in the South Korean port of Gwangyang. The court refused to Sberbank to arrest the shares of Rosneft owned by Glencore. Glencore sold out of Russneft in 2022, capping two decades of investments which saw the Swiss commodities firm trading millions of barrels of the Russian group's oil even as it witnessed some of Russia's top corporate and political battles. Russia’s largest bank is attempting to seize some of Glencore Plc’s Russian assets as compensation for what it says is an unpaid oil trading debt. Glencore liquidated most of its Russian assets begore the invasion was started. In October 2023 assets of Viterra were sold to AGROBUSINESS MANAGEMENT LLC. Swiss-based trading house Glencore and aluminium producer Rusal have extended their long-term supply contract into next year after the amount traded so far has amounted to a fraction of the agreement's maximum volumes.

May 22, 2024Glencore, Rusal extend aluminium supply contract into 2025, source says
April 22, 2024Blood grain. TOP-3 transnational agricultural holdings that work in Ukraine and at the same time earn billions of dollars in the Russian Federation
April 20, 2024The world's two largest metals traders, Trafigura Group and Glencore Plc, are set to withdraw large volumes of aluminum from the London Metal Exchange in a complex deal.
April 15, 2024The court upheld Sberbank's claim to recover almost 115 million euros from Glencore
September 28, 2023Glencore traded 5,000 tonnes of Russian copper via Turkey: report
September 26, 2023Glencore trader sold several thousand tons of Russian copper to Italy via Turkey – FT
September 20, 2023Russia’s Largest Bank Tries to Seize Glencore Assets Over Oil Debt
August 18, 2023The court refused to Sberbank to arrest the shares of Rosneft owned by Glencore
March 16, 2023Glencore Won’t Renew Rusal Aluminum Deal as Things Stand
February 27, 2023Trafigura Lines Up Russia Aluminum Deal in Challenge to Glencore
January 31, 2023Glencore sells Russian aluminium into LME storage, sources say
January 27, 2023Glencore response
December 26, 2022Russia's Sberbank urges Glencore to resolve dispute over oil bill
November 11, 2022Letter sent by B4Ukraine to the company (no response provided)
November 05, 2022Glencore posts record $18.9bn profit as coal enjoys a renaissance
October 19, 2022Glencore delivers Russian-origin aluminium into LME system -sources
March 30, 2022Completion of review of Russian business activities
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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