One of the world's largest commodity traders sold oil assets in Russia

24.04.2025 0 By Writer.NS

Swiss trader Glencore, one of the world's largest suppliers of minerals, non-ferrous metals and energy, has sold its stake in the oil company Russneft, which it owned for more than 20 years. The Moscow Times reports this, citing the new shareholder structure of the Russian company, which was published on its website, reports epravda.com.ua.

Ihor Sechin, head of Rosneft

In particular, Rambero Holding, the structure through which Glencore controlled 5% of Russneft, disappeared from the list of shareholders owning 23,46% or more of the authorized capital.

At the same time, OCN International DMCC, registered in the United Arab Emirates (UAE), has become one of its shareholders, which now owns 12,25%. The share was transferred to the new owner on April 23.

Another new shareholder was Russneft's subsidiary, Belye Nochi, which bought a 12,75% stake. Thus, in total, the new shareholders own 25% of the company's authorized capital, or 33,33% of its ordinary shares.

Swiss trader Glencore has been involved in the formation of the Russian company Russneft since the early 2000s, but at the end of 2023 decided to sell its stake.

This was not possible quickly due to restrictions imposed by Russian dictator Putin on investors from "unfriendly" countries. In 2024, Putin allowed foreign entities to conduct transactions related to the company's shares.

Russneft is one of the largest oil producing companies in Russia. Its assets are concentrated in key oil and gas producing regions of the Russian Federation (Western Siberia, the Volga-Urals region and Central Siberia).

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