Economics
Glencore Is Losing Billionaire Allies to Trump's Sanctions
- Company spent years cultivating relationships with partners
- U.S. action increases uncertainty over other business ties
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The reach and power of U.S. sanctions are hemming in the world’s largest commodity trader.
In just four months, Glencore Plc chief Ivan Glasenberg has lost two of his closest business allies as President Donald Trump’s aggressive foreign policy hits home, forcing him to cut ties with billionaires Oleg Deripaska and Dan Gertler.