Russia’s Largest Bank Tries to Seize Glencore Assets Over Oil Debt
- Moscow court to hear Russian bank’s $123 million claim
- Also targeting assets of Glencore-backed grain trader Viterra
A Sberbank PJSC bank building in Moscow.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s largest bank is attempting to seize some of Glencore Plc’s Russian assets as compensation for what it says is an unpaid oil trading debt.
Sberbank PJSC is asking a Moscow court for €114.8 million ($123 million) in compensation after its Swiss commodity trading unit sold oil to Glencore but never received payment, according to documents published on the court website.