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Baku, December 8, AZERTAC
Russia sold an 10.2-billion euro ($11 billion) stake in its largest oil producer to commodity trader Glencore Plc and Qatar’s sovereign wealth fund in a triumph for President Vladimir Putin, who announced the deal on state television personally, according to Bloomberg.
In a surprise deal that comes despite U.S. and European Union sanctions against Russia, the buyers will share a 19.5 percent stake in state-run Rosneft PJSC, which pumps almost 5 million barrels a day. The biggest foreign investment in Russia since the crisis in Ukraine, it also marks a stunning return to deal-making for Glencore Chief Executive Officer Ivan Glasenberg little more than a year after his company was forced to raise cash from shareholders.
AZERTAG.AZ :Russia Sells $11 Billion Stake in Rosneft to Glencore, Qatar