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Glencore Is Reviewing Its Stakes in Two Russian Companies

  • Commodity trader Glencore owns stakes in En+ and Rosneft
  • Company is also reviewing its trading operations in Russia
A worker monitors an electrolysis bath at the Khakas aluminium smelter, operated by United Co. Rusal, in Sayanogorsk, Russia.

A worker monitors an electrolysis bath at the Khakas aluminium smelter, operated by United Co. Rusal, in Sayanogorsk, Russia.

Photographer: Andrey Rudakov/Bloomberg
Updated on

Glencore Plc, the world’s biggest commodity trader, followed some of the world’s largest companies in reviewing its business ties with Russia as the fallout from the invasion of Ukraine intensifies across global commodities markets. 

While Glencore stopped short of exiting its investments, the company said it was reviewing its shareholdings in two of Russia’s biggest companies as well as its wider trading operations in the country. It’s a dramatic turn for a company that has long been comfortable operating in the most difficult jurisdictions and whose former chief executive officer was awarded an Order of Friendship by President Vladimir Putin.