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 CompletedIn 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.
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.