Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling Back
Trafigura Group Pte. Ltd. is a Singapore-incorporated multinational commodity trading company founded in 1993 that trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackCommodity trader Trafigura Group is in talks to buy aluminum from United Co. Rusal International PJSC, highlighting its willingness to strike new deals with Russian companies even as its biggest rival balks. Among the trading houses, Trafigura has actively sought new deals to buy and sell Russian metal, according to people familiar with the matter, as it moves to steal a march on rival Glencore Plc — which remains a major buyer of Russian aluminum but has said it won’t do new business in the country.
Freeze investments and stop purchasing crude oil from Rosneft from May 15. Following a review of options in respect of its 10 percent non-operational, passive shareholding in Vostok Oil, Trafigura has now exited its investment; maintain shareholding in Russia. Suspend all business activities indefinitely & exit Russia, but sells Russian oil. Trafigura terminated its long-term offtake contracts for crude oil and petroleum products with state-owned Russian producers in advance of European sanction…. "Since then, we have not purchased Russian origin crude oil. We continue to comply with applicable sanctions".