Russian court orders Glencore to pay shares worth 114.8m euros in Sberbank lawsuit

(Image courtesy of Glencore.)

A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 billion roubles, or some 114.8 million euros, worth of shares in a lawsuit filed by Sberbank, according to the court.

The payments include 0.57% of shares of Russia’s largest oil producer Rosneft and 10.55% of EN+ Group MKPAO, owned by Glencore Group Funding Limited.

It is a second lawsuit Sberbank has filed in Russia against Glencore over unpaid fuel supplies. Last year, the court ordered a subsidiary of Glencore to pay about 118 million euros ($125 million) to Sberbank.

Glencore and Sberbank were immediately available for comment.

(Editing by David Evans)


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