Putin allowed transactions with Russneft shares – Kommersant
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Russian President Vladimir Putin allowed foreign persons to make transactions with shares of the oil company Russneft. Accordingly order published on the legal information portal.
“To allow transactions (operations) entailing the establishment, change, termination or encumbrance of the rights to own, use and (or) dispose of shares,” the document says.
Interfax with reference to a source, he writes that the order will allow the Swiss company Glencore to complete the exit from the share capital of RussNeft. Glencore, through the Rambero Holding structure, owns 23.46% of the authorized capital of Russneft.
Glencore agreed to sell its stake in Russneft in December 2021 and planned to complete it in 2022, but this has not been announced. The President of RussNeft, Evgeny Tolochek, said in September 2023 that, de facto, the Swiss trader does not participate in the management of the company.
Read more in the Kommersant article. “Glencore will part ways with Russneft”.
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