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«    March 2018    »

USA to assess Glencore-Rosneft deal in terms of sanctions violation

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USA to assess Glencore-Rosneft deal in terms of sanctions violation

The USA are going to examine a deal reached between commodity trader Glencore Plc and Russian oil company Rosneft, the U.S. Special Envoy and Coordinator for International Energy Affairs, Amos Hochstein, said in an interview with Bloomberg TV.

The deal was announced on Wednesday evening by Russian President’s spokesman, Dmitry Peskov. According to it, Glencore and the sovereign wealth fund of Qatar took a 19.5 per cent stake in Rosneft in a €10.5 billion deal.

As Amos Hochstein put it, the USA would not indispensably block the deal, but they would analyze whether it violated the sanctions imposed upon Russia. The transaction with Rosneft “is not something that we expected”, he added.  

The deal also indicates that Russia is in need of money, Amos Hochstein stressed.

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