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

Kitco Media
By Reuters
Published
Updated
Reuters

MOSCOW, April 15 (Reuters) - A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore (GLEN.L), opens new tab will pay more than 11.4 billion roubles, or some 114.8 million euros, worth of shares in a lawsuit filed by Sberbank (SBER.MM), opens new tab, according to the court.

The payments include 0.57% of shares of Russia's largest oil producer Rosneft (ROSN.MM), opens new tab and 10.55% of EN+ Group MKPAO (ENPG.MM), opens new tab, 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.

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